First of all, I am very cheap so if the crowd thinks this would not be safe then let it be known but I have an idea about a very easy way to start hanging. Take 1 long tube sock and put some type of weights in it (I thought about using weights from a set of ankle weights). Put the Penis in the sock (while flaccid) and use a cable clamp to fasten the sock to the penis. I know this is very simple and may not be able to withstand a lot of weight but what do you think?