An item holder is provided for use with a perforated panel having a shank with a support arm extending outwardly from a first end and a catch located at a second end. The catch comprises a curved cantilevered strap projecting from the second end and having a stop tab located at a strap end positioned above, but spaced away from the second end. In another embodiment, a system for supporting an item on a vertically oriented structure is provided including a substantially planar board having a plurality of spaced perforations, where each perforation is defined by at least an internal top edge and an internal bottom edge of the board. An item holder is with a slot defined through the underside of the cantilevered strap between a top portion of the shank and the second end of the cantilevered strap so that when the item holder is located within one of the plurality of perforations, the slot engages the internal bottom edge of the board. A tool holder is also provided that includes at least one disk-shaped flexible member having an aperture. The flexible member comprises a plurality of fingers capable of resiliently deflecting to grip a portion of the tool when axially inserted therethrough in one direction so that the tool is held in an upright position by the flexible member.