Here's a pretty easy way to stow your flat iron.
Buy an inexpensive potholder (the cheaper & thinner the better because it will be easier to cut through) - like this one:
Then cut off the thumb section making the finger section as wide as you'd like - mine's a bit curved & tapered:
Turn it inside out & sew up the cut side (either by hand or machine). Then flip it back & it will look like this:
You can also cut the other side for a more uniform look & sew it up as well - but this method is a lot faster & it's easy just sewing up one side.
You can then place your warm flat iron inside after using & hang it up!
Viola - it now lives in harmony with my makeup!
I also usually wrap the cord around the hook too - depending on what kind of morning I'm having (if the thing gets used at all!). There is a bit of room to put the cord into the holder as well, but I usually wait until I know it's cooled down. You could of course leave the pot holder as-is & it would also make a great flat iron holder, but I'm not crazy about the look of a pot holder in the bathroom. To me, this looks a little more streamlined & it was fun to make.
And for more ideas similar to this, check Pinterest - there are some really cute ones!