I've done that. It did work, and did hold up (even through a move) but I ended up not using it as much as I thought I would.
I made a stand for mine by putting a pole up into the body when I was stuffing it, and then putting the pole down into heavy cardboard/wooden spool like wire comes on (not sure where the spool came from, my mom had it). Then I adjusted the pole length so that the dummy's shoulder height was the same as mine, for help in hemming.