Carrying It in Void Totem

By default the totem has to be held, in either hand, exactly like the vanilla Totem of Undying. Holding it costs you a hand slot, which is the trade the vanilla item asks for too.

If you would rather not give up a hand, one setting changes that: with Use From Inventory turned on, a totem anywhere in your inventory will be used. This is more forgiving than the vanilla rules, so it is off by default and left to you to choose.