I posted this as a Frugal Friday Tip at Scrap Our Stash. This is my version of a Clip it up! It is actually an over-the-door towel bar. I removed one of the bars - to give more space between the 1st and 2nd bar - then I used chain and dowel rods to add to more rows. I use book rings as my clips.
I can see what I have - and everything that goes together is together. I can easily un-clip them when I want to use them.
This has worked out great for me and takes up very little space. This is also the inside of the closet door - so if I don't want them visable I can close the door.