My paint stand is a hockey puck with 4 holes drilled into the face of it. I insert coat hanger wire into the holes, similar to other paint stands here. The advantage is that I can rotate it in one hand while I paint.
Got any old plastic cream cheese or butter tubs? Wash them out good, turn it over and poke a bunch of holes through the bottom. I paint parts on tooth picks and then pop them into the holes for drying. It never falls over, holds a ton of parts and costs nothing. I use fun-tack on the toothpicks, or attach alligator clips to them or use the plain toothpick in a hole in the part, or drill one where it won't show.
Bob