Go Hookless: Clip the tips from No. 6 hollow wall anchors, drive them into pegboard, then secure your tool holder by driving screws into the anchors. Short lag bolts fit snugly in the holes to create additional hangers for lightweight objects.
49 Brilliant Garage Organization Tips, Ideas and DIY Projects - Page 31 of 49 - DIY & Crafts. This looks like Bouillon Cube jar lids screwed to the board, so jar part can screw onto the lid. I've also seen done with baby food jars.