To make a homemade wet or drysuit hanger you need a piece of PVC tube/pipe, and about 4' of rope.

Go to the hardware store and get a piece of PVC tube = 3, 4, or 5" in diameter, about 20-24" long. If there are any rough edges, sand them smooth. Put a piece of rope - any kind will do - through the tube and tie it up to make a triangle. The measurements are not critical but if the rope is thin, you might want to double it up. Make a loop at your knot so you can slip it over the hook part of a sturdy hanger, or a hook of some sort.

Now you simply lay the wetsuit over the pvc pipe so it's sort of folded, draped really, over the pipe. That way you don't have any stress points from the hanger on the suit. The larger the diameter of your PVC, the better.

Assuming it will get regular use, or even if it doesn't, periodically (maybe once a month) shift the suit a couple inches on your hanger so you don't get a flat spot in the neoprene.

If your hanging rope is long enough, you could even insert the PVC inside the suit across the shoulders and pull the rope up through the neck opening. This gives a better drying position but once it's dry I put mine over top the PVC so I don't get hanger marks in the shoulders, and so it fits in the closet.