I was excited to see that Paparazzi Accessories is now offering this spinning pegboard in the consultant website! Love it! The price is very reasonable too! I love the mirror on the corners.
I could see this being used for many things - but mostly for starlet shimmer items, bracelets, earrings or clips.
If you have some leftover pegboard and/or want to make one for yourself, you can use this tutorial from Sugar Bee Crafts. It is a good tutorial that is easy to follow!