Close with delay

Close with delay

I have made a fairly simple toggle menu with the following code.

jQuery.noConflict();
jQuery(document).ready(function() {
// hides the slickbox as soon as the DOM is ready
// (a little sooner than page load)
  jQuery('#statussettings').hide();
// toggles the slickbox on clicking the noted link
  jQuery('a#statusbarsettings').click(function() {
   jQuery('#statussettings').toggle(400);
   return false;
  });
});


However since it is menu like it needs to close when the user isn't using the menu anymore.

I tried to figure it out on my own with no luck. Does anyone know how the menu can close by itself? Auto close with delay or something with mouseout?

Thanks in advance