Step 1: Step 1: Procure 1 or 2 Medium Sized Binder Clips
Step 2: Bend One of the Wing Ends to Make a J
Remember you don't want a V just a big enough J end to hold the phone edge.
Step 3: Take the Second Binder Clip and Piggy Back It Onto the First Stand
This is a bit tricky to explain but check out the picture for more information. The second clip should grab on the first clip and will end up being parallel to the desk. Setup the first one as if you have an iPhone on it and the from the back squeeze the second binder clip so it is wider than the first and go straight into the first until the front edge of the top of the clip is pushing the vertical iPhone support up a bit.
You now have a double sized base and it will support your phone standing vertically.
Step 4: Enjoy Your Stand and Mod It
I had an orphaned USB Thumb Drive cap in my desk drawer and it fit perfectly over top of the end of the binder clip to provide a large pad for the back of the phone and a bit more stability.
Be Creative! Look around and see if there is something you can re-purpose to make your iPhone Binder Clip Stand more functional or with more style and send me a link of your creation.
If you want more info you can check out my original blog post at: http://www.richandstephsipe.com/wordpress/2008/11/20/iphone-binder-clip-stand-instructions/