I like my pegboard tool hangers a lot. I especially like the screwdriver holders that hold six driver tools with a narrow shaft and a wide handle. Unfortunately, these holders are usually too wide to hold smaller, precision tools, so I decided to modify one.
Step 1: The Problem
Most of the time, I use my precision screwdrivers more than the regular sized ones, but I had no way to hang them from the pegboard over my workbench. I had to modify the standard holder to narrow the holes so it would hold smaller tools.
Step 2: The Solution
This is a pretty easy modification. I used a small pair of bolt cutters and some wide jawed channel-lock pliers to narrow the holes on the holder.
First, I used the bolt cutters to cut a little under a half inch off the free end of each loop. I didn't measure anything, I just made each cut where the wire started to bend around the curve. Next, I used the channel-lock pliers to pinch the remaining wire in two places to make a smooth, semi-round shape that is smaller than the original diameter. I found that it's easiest to make the first pinch closest tot he free end so the second pinch can close the remaining gap and leave a tight fit.
Step 3: Completed
The end result is exactly what I hoped. The precision tools now have a perfect place to live, right above my workbench. Best of all, the regular sized drivers still fit in the holes.