I don't have it mounted in the storage compartment—just tossed in with the tripod chairs. I see no reason why plumber's tape wouldn't work just fine to mount something like this, though. It might be a bit cumbersome to unscrew the opening in some cases.
I suppose wooden sticks might work better for marshmallows in particular, and they're certainly more traditional, particularly if you go off and cut down a little sapling yourself and sharpen the end to a point with your boy scout knife. (Of course, that's not an option in most campgrounds or state parks.) However, in as much as I really don't care for either hot dogs or marshmallows myself, I have a hard time getting too excited over culinary comparisons there. DrewE's preferred s'more contains chocolate and graham cracker only, and bonus points are awarded for good dark chocolate.