Little late to the party, but I use a small plastic case to display individual flies like streamers or buggers that the kids have tied. You need some small plastic boxes like what you would use to display 1/64 scale cars, small, thin rectangular wooden craft pieces and a section of small dowel rod. You can put several small flies in a case or one big one. Customize Drill a hole in the center of the wooden base. Cut a short section of dowel rod using a razor saw and use carpenter's glue to glue in the hole. Use the razor saw and cut a slit in the top of the dowell to slip the hook into. Check and see if you need to shorten the dowel rod by placing everything on the base and put the top over it. Adjust as needed. I usually stain the wooden bits before I cement the base to the bottom of the case and put the top over it.
"They say you forget your troubles on a trout stream, but that's not quite it. What happens is that you begin to see where your troubles fit into the grand scheme of things, and suddenly they're just not such a big deal anymore." - John Gierach