How to Make a Pegboard Thread Rack

I used to have a thread spool holder that I bought at an estate sale - it was small and didn't hold all that I wanted/needed it to.  I looked into buying a holder, but

HAITRAL 4 Set of 54-Spool Sewing Thread Rack, Wall-Mounted Metal Sewing Thread Holder, Hair-braiding Organizer, Black : Everything Else

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Picture frame Thread holder and sewing tools holder.

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