A portable wig and cap drying stand for use with a portable electric hairdryer. The stand has a base which receives the bottom or fan section of the hairdryer and holds the nozzle of the hair dryer directed vertically away from the stand and towards a wig support. A hollow cylinder fits over the nozzle and connects the wig support to the base of the stand. The hairdryer is turned on for drying the wig or hat on the stand. When not in use, the stand may be compacted by removing or collapsing the cylinder, for portability and packability.