This instructable explains how to quickly and cheaply create a magnetic hook, which can hold weights till 500 gms.
Step 1: Things required
A neodymium magnet
A bottle cap, the kind that is made of metal and can stick to the magnet.
A wood hook, the one with threads.See image for how it looks.
A hacksaw or a pliers that can cut the hook threads.
A knife to remove the rubber linings from within the cap.