Imgur user Plunkies figured out a quick way to turn 1/2-inch-by-four-foot rebar into simple target stands with the help of a handful of turnbuckles. It must be ribbed rebar to hold.
These dirt-cheap stands look really stable, even on uneven ground because you can really easily adjust the height of the legs.
I think you could make a third type of target stand with a minimum of seven pieces of rebar that you could daisy-chain together for a whole row of target stands, with one bar passed over two tepee stands. Like this:
You don’t have to hang plate steel off of these, either, they’d be great with little sporting clays hangers. You could set up an entire range like this for chump change.
You could keep all of it in a duffel with spare parts and never have to worry about having things to shoot at. Bonus, if you hit a leg, it’s probably not going to do much damage at all, and it’s basically guaranteed not to ricochet toward the line. And if you do kill a rebar, who cares, it’s rebar.