If one pegboard simply isn't enough to hang your tools, this flipboard system just might give you the space you need. It uses multiple pegboards attached to the wall with hinges, so you can flip through your tools just like pages in a book.
Instructables user NEIN shows us how to make a simple flipboard storage system to make more use of your wall space. The design uses several pieces of pegboard, hinges and elastic cord to keep tools in place when you sort through the boards. Hit up the post at Instructables for the step-by-step instructions.
Easy Store Flipboard [Instructables]