I am GOING to do this...The towel bar was simple to find, but we were having trouble finding the right kind of hooks. A nice associate at Home Depot gave me the idea to use shower curtain hooks. I ended up finding hooks at Target with two slots. I picked up a package of 12, along with an 18 inch towel bar, for less than $25.
Love the idea of having this roll organizer in a pantry for wax paper, aluminum foil etc...maybe a DIY project?