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Step 1: Get Materials
For good looks use some left over spray paint from some other project.
Step 2: Glue & Paint
Paint your pipe and wood mounting blocks. I decided to paint before drilling the hole just so there wouldn't be some weird overspray inside the hole.
Step 3: Drilling
Drill some holes in the wood blocks for fastening it to the wall.
Step 4: Mount the Wood Blocks
Step 5: Attach Tube
I drilled and countersunk so the screw heads wouldn't catch any bags.
The bottom screw is accessed through the hole. The top screw was put in on a slight angle so the drilling and screwing could be done through the open end.
Next, stick bags in the top until the start coming out the bottom. This holds about 20-25 plastic grocery store type bags.