Where do I place it? I'm guessing not on the outside of the travel bag, correct? Somewhere in the golf bag and then the bag goes into the travel bag? For reference, the travel tag in use is a sun mountain club glider meridian. Thanks in advance

Just toss it into one of the golf bag pockets. Works by pinging off the bluetooth of nearby iphones, so I guess don't bury it too deep (that's what she's always saying to me) or in anything that might block the signal like that bag of Doritos you didn't finish on the back 9

I just put mine in the "valuables" pocket.

I highly recommend the magnetic range finder sleeve that Amazon sells that has a pocket built in to hold the AirTag.
I put my laser in my golf bag and it then is tracking my golf.bag and my laser.

And I've been able to retrieve the lost laser numerous times

I always keep an airtag on my rangefinder in case i leave it at the course; I'd get a "left behind" notification before I leave the parking lot. That said, i don't like checking my rangefinder with my golf bag because of tsa and baggage handling thieves. Easy pickings. If it's got a lithium battery, shouldn't be checked anyway

I put an air tag in my valuables pocket too. For my checked bag I just use an ugly, crappy pair of socks that I know I won't wear on the trip and put my air tag in there. I use the same pair on golf trips and work trips so I know that's where the air tag is located.