String 5 beads...I'm using 11/0 seed beads here.
Go back through all five beads and tie the two ends of the thread together so the beads form a ring. Knotting makes sure the ring stays tight. Slip the post of the earring through the center of the ring.
Work a row of peyote with one bead in each stitch, finish off your threads.
Make a second ring exactly the same but do not finish the ends.
Place this ring on top of the disc of the post so that the disc is sandwiched between the two bead rings. Stagger the edge beads so that the edge bead of the top ring lays between the edge beads of the lower ring. Zip the two rings together through the outside beads.
This is what it will look like from the side :)
Work a row of peyote into the top ring adding 2 beads per stitch. (10 beads)
Step up through the first 2 beads.
To reinforce the attachment of the two bead rings, turn the work over and pass the thread though the single bead on top of the two.
Pass the thread back through the 2 beads.
Weave through to the next 2 beads and repeat the last two steps.
Continue around until all five sets of 2 beads have been worked in this manner.
Your earring should now look like this. At this point if you don't feel it is secure enough you could add a drop of bead glue into the center of each ring so the post disc is glued from both sides.
And here is your burried post with a base of beads ready to add embellishments or whatever your muse directs you :)