This LINK takes you to a method to make holders for sanding discs for your drill. I will add to this you will need to add a pad to the holder and velcro . For gluing the pad ( garden knee foam works) on Shoe Goo works very well. For the velcro use either plain back and glue on or self adhesive. Also I shape mine with the wood being smaller than the sanding pad and then shape the foam on the lathe with a skew , kinda like a little funnel shape.

I might add as well, folks you'll need to click on the page numbers below the article to get the whole build for the disk, at first I only looked at the first page and scratched my head, till I saw the page numbers below.

Thanks Gerald, great link!

Thanks, @Gerald

 

Interesting and simple idea.  Thanks for the link!