I too used flannel over my insulation board.But found that the flannel on the bottom half isn't as "grabby" as the flannel on the top half. I think I am going to redo the board and try it with felt. But I do love it, I had done mine about 6 years ago when I realized how expensive those fancy design boards were, and a sheet of insulation was less than $10. And then there was the $120 for the roll-down like a window shade! No thanks.
I mounted mine on a piece of board and attached hooks to it. Then put anchors in the wall above the closet and hung it there, easy to remove if I need to get in the closet. And simple to remove the anchors when I am ready to sell my house.