Aren't I So Smart!!

I have a relatively small kitchen. Let me rephrase I have a large kitchen with small amounts of cabinet/counter space. I have always hated the fact that I kept my pots and pans are on top of my refrigerator because I really don't have a better place to keep them. It seemed like a good idea at first but then it just became a pain in the butt. I mean I had to rinse then out every time I wanted to use them because they collected dirt and dust like crazy, plus add the safety hazard of them falling on me (happened on a couple occasions). So by Christmas time I was ready for something different, so I  thought hey why not ask my mom for a hanging pot rack because that would be totally awesome...Well being the awesome mother that she is she decided that I needed a new microwave instead, I mean cool I have a microwave now (that I have used three times in the month and half it is been up) but where was I going to put my pots and pans....

Then I remembered something I had see on Houzz...(here is the link because for some odd reason it's not letting me upload the actual photo.)

Here is my version...

I do plan on painting the peg board, not sure if I want to do the same color as the wall or do something cool like an accent color. What do you think? 

Now I'm trying to figure out a cool way to store my kitchen utensils. Any ideas? Have any cool ways of storing things you in your kitchen?

Over and out, 

A Engineer in the Kitchen