I am making some peg boards to install in my home in a few strategic places. And perhaps the whole house some day! I have taken inspiriting from those shaker communities that adorned there homes with pegs in boards at picture rail height to hang all of the belongings from candles to chairs. Everything out in the open, easy to see and readily accessible. I think in most homes one could find room to add such a simple storage device.
I chose oak boards and dowels from the home center. I made some special little wedges of poplar and glued in the pegs with the grain orientated like wedging chair legs as to not cause splitting. I am hoping for a long life with no loose pegs.
Taking some inspiration from the beading-mania sweeping the nation I too put a small bead at the top and bottom of the board.