I salvaged some Oak boards from a hardware floor and decided to try and make my own socket caddy out of the oak boards.
Step 1: Clean up the wood
There is a good technique to do this that I learned. Using a pair of vice grips clamp on the nail as close to the board as you can get and simply roll it out. Use the nose of the vise grips to pry the nails out and pull them through the back side of the wood. if you try and hammer them back through and take them out of the face of the wood they will often pull up splinters and damage the surface. If you pull them out through the back side you avoid that.
Sometimes the nails will break off. If this happens then get a punch and punch them out from the front until you can get a grip on them.
Make certain that you get out all of the nails, tacks and screws.