After making a handle for my TWCA Cam, I thought I'd better protect the cutting edge before it gets dinged so I sketched out a number of designs and this was the one I chose to take forward.
It is made from an offcut of sapele with a little bit of beech for the toggle. I drew out my design on two faces of the sapele and used my 3/4" pig sticker to chop the mortise. It was a bit different to a standard mortise because as you can see it has a rounded bottom (don't we all). Then I sawed out the basic shape and used my rasps and carving knife to refine it further. Next I whittled the beech toggle, sanded everything to P240 and drilled two counter-bored holes in the cover and one in the toggle. The finish is one coat of BLO and one coat of Briwax. Some knotted 3mm elastic secures the toggle to the cover. The photos show how the toggle holds the elastic in tension thus securing the stem of the iron in the slot. In use it is very secure and affords a good deal of protection.