PHPEdit can be installed directly on a USB stick, but the problem is that PHPEdit's settings are stored in the user's profile directory. So to have these settings put in the USB stick, you have to tell PHPEdit what directory to use.
Read the FAQ entry here: http://doc.waterproof.fr/ faq/phpedit/how_do_i_inst all_phpedit_on_a_usb_stic k_phpedit_2_10_and_up