Clean it good and hang it up on a wide shouldered hanger. Just make sure that it is out of the way so nothing will accidently cut the neoprene.

I made the mistake of storing my Xterra wetsuit inside out (with the jersey side outside). I found one point of contact where the rubber skin stuck to rubber. I had to carefully separate these.

I use a good cloth padded sweater hanger, you can find them for less than $5 at target or somewhere.
Though one of my friends has a wide long shelf that she leaves her sleeping bag spread out on and once her wetsuit is dry, she lays it out on top of the sleeping bag for safe and unstretched storage.

Thanks for all of the feedback. Does air temp make a difference when storing your suit? My basement is fairly cool and somewhat damp. Would upstairs be a better storage location?

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