I fixed this on my 95 last June - there are 2 plastic bushings that the shifter pivots on, mine were mostly gone. I ordered new ones from the dealer (MB580253 - currently $7.71 each from Southwest Mitsubishi) and the replacement process took about an hour - not very difficult. It restored the shifter to like new, with no slop in it at all.

95 Montero SR
3.8 MIVEC, Advance headers, 2 1/2" exhaust, Magnaflow muffler, OME shocks & rear springs, 2" body lift, 3" tank lift, 4.90s, TRE front locker, factory rear locker, Roger Brown Rock Sliderz, 315/75r16 (35") tires, Sport big brakes