Hang the pegboard according to the directions with the kit. Kits are found at local or online hardware stores. Kits come with a large piece of pegboard, the items needed to hang it and the pegs for hanging tools.
Locate the spot you want each tool to hang. Make sure you have the pegs already up so you know exactly how the tool will fit on the wall.
Take the pegs out and hold the tool up to the pegboard in its place. Use one hand to hold the tool against the wall and the other to trace around it with the black permanent marker.
Replace the pegs and hang the tool in its new outline.