I whipped up a swanky evil throne for my (very much work-in-progress) Skeletor minifig a couple of days ago. Check it out!
It has spots to store his weapons, as detailed below:
I think it turned out pretty cool working within the limitations I had to deal with. Some of the details can be tough to make out since it's mostly black, so if any of you want to make your own Throne of Bone, let me know and I can throw together some instructions!