This is what I did with an old collapsed ironing board. We had to bend some metal to get the legs off but it only took a few minutes. If it gets too bent hammer it back down and cover it with duct tape.
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We used 2x3s to hold it on the wall so it sticks out and has a bottom to catch the rulers. Rulers that are too short go on the hook.
The pretty things across the top are old earrings glued to magnets.
The hooks are shower hooks - the kind with the big ball on the back - peg board hooks don't work as nice.