If you search "milk carton feeder" there are some great ideas. I usually hang mine more mid-level to high. That's just me though. I'm sure there are other better ways of doing it. I just make sure I have branches/vines nearby. Some people have them under the vines, some in front of.
Usually anywhere the chameleon can visually see the insects inside the cup. Near, or under the basking light works good. Just stay clear of any water hazards, like drippers or misters. Most insects will drown in a small amount of standing water, and leave you with a wonderful smelling feeding cup - cage - room.