I saw this idea at a link party recently. The plaque said 'Pantry' on it but since I have an area of damaged wall in my kitchen that I've been wanting to camouflage, I decided to change it up and here she be:
I found a scrap of rough and rustic wood in my father's workshop and all I did to it was dust it off well.
I bought my cutlery at the dollar store ($4 for 12 pieces), arranged the placement until I liked how the utensils looked, and then I glued them down with guess what? Silicone caulking for tub and tiles, the invisible kind. There are a bunch of better glues to use I'm sure, but this is what I found in the workbench, it was free, and it works!
Use whatever hardware you like to hang, and you're done.