Abstract: A holder for a flashlight with a sheath that is variably positionable during use. A variably positionable sheath formed with a cavity and having an axial post. At least one u-shaped flexible removable grasping member is formed in the cavity. The u-shaped member has bent arms that apply pressure to the flashlight bell when it is inserted into the cavity. A disk with a plurality of pegs is rotatably mounted on the sheath, with o-rings that wrap both around pegs on the disk and around the pegs on the sheath or disk base, allowing the sheath to be rotated by the user and causing it to return automatically to its original position. A clip is engaged for securing the sheath to the user. A method for manufacturing a holder for a flashlight with a sheath that is variably positionable during use.