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I found my self often searching for a speed square, and not being able to put my hands on one.  As a result, I bought a fleet (?) of speed squares so that I would always have one within reach, or within sight at least. 
I finally decided that I should probably hang the speed squares so that I wasn't always having to scrounge around to find one.  Because of its size, a speed square doesn't lend itself to hanging on a pegboard. 
When working on a project, it's handy to have multiple speed squares.  One can stay with your chop saw, and one can be located at the workbench, then another next to your saw horses, etc.  When not in use, they can be stored in this shelf. 

This shelf could possibly be used to hang other other oddball tools.  Look around to see if you have any other tools to hang.  Be careful that your shelf can safely hold the weight that you are applying to it.  In my case. the speed squares don't really weigh anything. 

Step 1: Laying Out the Speed Square Shelf

If you have a handy shelf, you can hang your speed squares underneath it.  The shelf shown here is above head height, and out of the way. 
I used a piece of MDF that I had laying around.  This piece is on the edge of being too small to use for anything.  I decided that a spacing of about 2" allowed me enough room to grab a speed square without hitting the one next to it.  The space on the outer edge is about 2".  Don't forget to leave yourself space on the left and right edge to attach a mounting spacer block.
Draw your line long enough so that the length of the speed square will fit inside the slot.  

Step 2: Cut a Slot

I used my chop saw to cut the first slot, then moved the workpiece slightly to make the slot wider.  I continued to do this until the slot was wide enough to fit a plastic speed square into the slot. 
I measured that the slot was about 1/4" wide.  I marked the remaining lines to create a 1/4" space.

Step 3: Mounting Spacer Blocks

Cut some spacer blocks to fit on all four corners.  Make sure they are thick enough so that the speed squares can be pulled in and out without hitting the shelf above it.
Glue the spacer blocks to the corners.
I used finish nails to hold the blocks in place. 

Step 4: Mounting the Shelf

Find four screws that will fit through your spacer blocks, and go 3/8" to 3/4" into the bottom of the shelf you are attaching to.
Drill holes through each spacer block.
Mount your screws through the blocks on the four corners.
Attach the four screws to the shelf.
Load up your squadron of squares into their new home.

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