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Craft Room / Guest Room Combo Room Reveal Part #1

Brilliant. Stack eight small washers behind the pegboard before screwing into the wall, so that the board sits off the wall a bit, making it easier to move around the pegboard accessories.

Craft Storage Ideas for Small Spaces

Clean up your sewing room. How to Make a Giant Peg Board for organizing a sewing and craft space.

This site is full of ways to organize all your crafting items. It is even broken down by the items with several tips for each item.