Apply a layer of polyurethane construction adhesive to the 24-inch-long edge of a 2-by-6 board. Press the board against the underside of 24-inch cornice molding. Use two clamps to hold the wood and cornice together. Allow the glue to dry for two hours.
Attach four L brackets to the back of the cornice and board. Use a drill to drive two wood screws into each bracket to hold them in place. Space the brackets evenly. Remove the clamps.
Turn the cornice and board over, and place them upright on the ground. Measure and mark five or six spots where the tool hooks will go. Space the spots evenly. Drill a hole at each of the spots you mark.
Place a wrought-iron hook over each of the holes you just drilled. Use your drill to fasten the hooks to the wood with wood screws.
Place a 24-inch level against the wall of your shed, house or garage where you want to hang the tool holder. Draw a line against the level to guide you when you hang the tool holder.
Hold the bottom of the tool holder flush against the line you just drew. Have a friend hold the piece if you cannot hold it and use your drill at the same time.
Connect the tool holder to the wall with wood screws. Use enough screws to safely secure the tool holder in place. Try to use wood screws at the top and bottom of the 2-by-6, spaced every 4 to 6 inches.
Hang your tools. If your tools do not have loops or holes in the handles, drill holes near the ends of the handles. Thread a piece of twine through the hole, and tie the ends together. You can now hang the tools from the twine.