Connect paper clips together, to made a chain of them.
Cut out pieces of newspaper/magazine pages/... into 2cm X 10cm each. One piece for one paper clip.
For each paper clip: Clip the paper piece in the paperclip, roll the paper around the clip, and glue the end.
The holder: find a piece of wood or anything long and hard, drill holes in them. Hang each chain of the clips to the holes.