Sugru is a really interesting material, pretty much anything that you think that requires an elastic silicone or plastic can be done with Sugru. At H3 Laboratories Makerspace in El Paso, we do a lot of work with electronics and it is common to see soldering irons just hanging from a piece of wood or ina precarious position while not in use but still connected.
For this reason, we made a simple yet, very useful Soldering Iron Stand with Sugru
Step 1: Get Some Sugru
Head over to http://sugru.com/us/buy and get some black Sugru this material is really cool, you can shape it to any geometry and it will set overnight and fix this problem.
Wash your hands before starting.
Step 2: Make a "U" Shape That Can "grab" Your Iron.
Get the Sugru and make it into a broad base and make a U shape at the top, like fingers that grab the soldering iron like you do when working with it. (The part that does not get hot).
Make sure that you test the size of the U for the size of your soldering iron, you want the "fingers" to be a tight fit so that you can snap on the soldering iron and it does not move.
Step 3: Glue the Base to Your Workbench
Glue the base to the workbench and let it set for approximately 24 hours. Now you will always have a really good snap on workstation soldering iron!
Clean up the base with some rubbing alcohol and/or soapy water and you are done!
This guide was made at the Hacknight hosted by H3 Laboratories sponsored by Instructables and Sugru in El Paso, Texas.