After screwing around with a bunch of webbing, clips, connectors, and odd gun parts, I have finally found a way to sling my GSG-5 with collapsible stock, and it works on either side of the rifle.

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I used a leftover 1/2" rail riser from my Bushmaster ORC, along with the front sling loop. I attached it to the RIS (right side for me because I'm lefty).

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I ran a strap (the original sling with my Bushmaster, cut down) alongside the receiver and looped it over. I ran a 1" strap (miscellaneous parts bin stuff) around the tail cap of the stock, through the first strap, and put quick disconnect clips on it to make field stripping easier. I then used a key ring to attach the quick disconnect end of a Tapco single-point sling set to the main strap.

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I can now switch between my Bushmaster AR15 and my GSG-5 with just a clip of a quick disconnect.