Where is the vermiform appendix located?
It is attached to the cecum at the junction of the small intestines.
No, not even close. The vermiform appendix, in animals that have one, is most likely a storage spot for the "good" bacteria that help you digest food. The idea is that, if you get bad diarrhoea (the 'runs') and your "good" bacteria are flushed out of the body, then the appendix will release its stored bacteria, allowing your gut to start digesting food, again.
When healthy, the vermiform appendix, which we just call the appendix, is found in the lower right quadrant of the torso, at the juncture of the small and large intestines. While it's base remains fairly stable, it's tip can vary from being retrocecal (behind the cecum) to being in the pelvis to being extraperitoneal.