I have currently fallin in love with belts (but not to hold up my pants, lol).
For myself, I wear it around the area thats right under my boobs (top of the rib area?, Im not sure how to explain it). The larger the belt the better for that area. It makes my figure more hourshape, and more put together. Otherwise I use it like a courset if the belt is a little tight (it feels okay when I stand, but sitting down hurts. lol).
Or I'll wear a top and cardigan sweater, and then a belt over it.
But back in the day when gauchos were the style (that was like 4 years ago or something?)... I would sport a silver or gold large "woven" style belt over a black top and black gauchos with silver, gold, or black flats (or black maryjanes). The belt would rest on my hips (the shirt was long enough where it would tuck under the belt). By coincidence, I had ran into a close friend (not knowing she had a new job at Victoria's Secret) and she was wearing the same outfit. lol