Menards PVC slatwall is simply the best. It's the cheapest, lightest, and easiest to use. Unfortunately, it does not employ a standard slatwall profile. This is why I have designed quite a few Menards slatwall accessories, which I will be adding to this collection. If you don't live near a Menards, you can order the slatwall here. 

This holds a screwdriver or other tool with a shank. It is meant to be magnetic. You will need 2-4 10x2mm button magnets. I use rare earth for a strong hold. A nut driver is a great way to insert the magnets. No glue necessary.