I'd wear it on my lapel, with the nice pocket watch on my vest and my jeweled monocle.
I know. I'm a slob. But I could change! I've been reading fantasy regency novels, and could get into the style. Carriger has even posted suggestions for improving the stylishness of us uncaring nerds.
Also, I've been wondering…there are a lot of steampunk novels out there, stories about alternative histories in which the industrial revolution leads to elaborate technologies involving mechanical gears and steam engines. Has anyone written any biopunk novels, where 19th century Europe is revolutionized by radical biological technologies? That would be fun.
Leviathan, by Scott Westerfeld, is a mix of traditional steampunk and biological technologies. (It's the first in a young adult trilogy, but a good story.
Steampunk vs biological technologies - with an alternative WWI fought between the Clankers and the Darwinists.