You'll need a lid. The Spanish ones come with a lid on a hooked spike that you shove into the rope. When you're done, pull the end of the rope and the burning end is drawn back into the sleeve and the lid shuts. To reopen, pull the lid off and it draws the rope back out.
I'm sure I've seen them for sale somewhere.
Here, with the lid. Called chisquero.
Now that's clever!!