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This tutorial is so easy to do and also very cheap. All you need to success is a 6mm long tripod screw (1/4") and a bottle-cork. IMPORTANT. You need to have the exakt thread on the screw for this purpose or you will destroy your cameras thread. If you are unsure, bring your camera to the store.
I bought my screw in the hardware-store for around 0.30$.
You also need a drill with a 5.5mm diameter size. 6mm might also work.
Step 1Drill a hole in the bottle-cork
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Start by using your drill and make a hole in the center of your cork.
I find it very inconvenient to find this page in my search result's for something pertaining to an actual cork.
However I will add that your idea of using a BOTTLE & CAP to make a camera stand isn't too bad except that sand would be better than water....
why not take it a step further and use colored sand, just a thought.