That, or I'm the resident blind guy. Actually, I am colorblind blue.
The off camera shoe will accept the standard 1/4" threaded stud most tripods use. I have actually used this setup for impromptu portraits. It helps if you can enlist an assistant to hold the tripod, allowing you to stretch the cord to get the full 3' range of motion. I've also held the flash head in my left hand, while shooting with my right.
But the system Bob describes is ideal, depending on your intended prupose and budget. I use a 580EX master, and two 430EXs as IR slaves. I use two lightweight Bogen light stands and Westcott 42" umbrellas, along with the exact unbrella/dlash holder Bob linked to. One tip, discard the aluminum dead shoes included with the tilt holders, and instead, screw the 1/4" stud directly in to the little flash stand included with the speed light. This will give you a safer, locking connection of the flash to the holder.
B&H is great, and very reputable, but I've found
MPEX to be much more personable and more competitive. The
strobist blog will teach you everything you ever wanted to know about off camera lighting "on the cheap and portable."
Here are pictures showing the holder and the whole setup.
Personally, unless you need to stay compact and portable, I do not think this is the most economical approach. For what I spent on this system, I could have bought a couple of Alien Bees and a light meter. It is compact though, and combined with a reflector and a few collapsible backgrounds, you have a portable studio that basically fits in a gym bag.