I have also read about DIY camera stands here and elsewhere so I made another type also while I was at it.
1 x piece of scrap wood
1 x 1/4" bolt
1 x 1/4" nut
Step 1: Fitting the Wood
First I removed the pegs, then I cut it roughly to the length of the fitting. You'll want to take to long rather than to short, though. If it gets to short it'll wobble with the camera's weight on.
Next I saw-and-filed one edge down to approx the angle of the fitting. And when I got it right I cut it to the right length. Now it can be put in the right place, but not locked there. Now just angle the other edge until it fits!
Step 2: Fixing the Bolt
Do not recalculate to metric and use metric size bolts, they have different threading and it might shred your camera fitting!
So I drilled a hole (yes, I thought I could use the existing hole, but I couldn't) and made room for the bolt head.
With the hardware store's limited supply of inch size bolts they din't have regular 1/4" bolts, so I had to get locknuts, and since the bolt's head was embedded in the wood I couldn't hold it still. Argh... But my father showed me how to do it :-)
Step 3: Finished!
Step 4: Other Options
(quick Google SketchUp sketch)
Step 5: Pocket Sized Bonus!
Now you have an ultraportable stand that you can attach to any bottle of that cap size (0,5 - 1,5 litre). Just bring the cap in your camera bag and get a bottle at location. Fill it with sand or liquid.