Nearly all my small hand tools live on a peg board. BUT I put a lot of thought into where they went, what needs to be away from the kids and what I use most. As a result a lot more efficient than tool boxes. Compared to some up there it is fugly but in the eight months is been up I haven’t felt the need to relocate anything.
Crap peg board layouts are irritating.
60-70% of what the tools are used for happens next to the board. The rest is usually in the house and the right tools come up in a bucket or box then go straight back down when done.
On mine (if it helps) it is perpendicular to the work bench and stretches along about 3m of wall about 1m deep. I have diy/domestic stuff at the work bench end. Bike tools are at the other end (so handy for when bike is in the stand). In the middle is universal stuff like pliers,adjustable spanners, mallet, tape measure,clamps and stuff.
This works well for me, I think mainly because the whole building was built to be laid out this way. A really nice tool chest would have been a nice alternative but was too much of a floor space sacrifice for me.
All the car tools are in boxes as they are heavy and need to be lugged up the garden before they get used