The next day, as I walked in the front door, I saw several segments of ornate garden fencing laying on the front porch and (of course) asked my wife if she was going to use them or discard them. With her blessing, I took one of the segments and started to work on creating a rack.
This is the process I used to get from pretty piece of fence (but of little use functionally) to a functional albeit ugly, drill rack.
Step 1: Planning !
So, I grabbed a bit of scrap paper and started to draw about what I wanted the product to do, and how it might do it. This is, by no means, a FINAL plan. Only something to get things going.
Step 2: Finding the Material(s)
Once I noticed the fencing segments, I detached one and worked with testing it's strength (which just amounted to me trying to bend it easily in my hands). It was a decently strong piece, so I brought it inside.