My father told me about this system a while ago- his father had had it in his shop. I installed it for myself, and it has made things SO much nicer and easier.
Step 1: Materials: Jars (duh)
Step 2: Drill holes in the lids
Step 3: Place and Screw the lids in
Put tape on the back of your drilled lids and stick them where you want the jars to hang. Make sure that there is clearance between the jars before putting the screws in the lids.
Use the holes you drilled in the lids to find your placement for the pilot holes, drill 'em up, and then drive the screws in.