As long as the bib is mostly visible from the front you can wear it on your shorts (slightly offset is ok), the shirt, from a belt (triathlon style), sports bra, etc.
Bad places to wear it are on your back (the select timers and finish line announcer can't see it), on your hat (don't ask), under a rolled up jacket (unfortunately popular with this race), waded up in your pocket, or back in your car (I'm not kidding).
Also, some folks think that it is cool to fold it up so just the number shows. They saw an elite runner do it once and think that they can be cool too if they do it. Do not do this. The foam spacer on the chip is there to put a gap between you and the chip to improve the read rates. If it gets flipped around then it is not as effective. Also doing this makes it very hard for the select timers and finish line announcer to see your number.