$10 pot rack
I came across this idea on Martha Stewart's website. It is pretty freakin' awesome. I found a towel rack at Satan-mart (walmart) on clearance for $7. I went to Ace and bought 2 packs of 'S' hooks for around $3. So I installed the towel rack above my kitchen sink and put on the S hooks. Pretty quick and painless.
Breezy posted this project as a creation without steps
Here are some similar tutorials to help you make this one!