Pegboard Cap Baby Food Jar

I found a bunch of old baby food jars and thought I could use them to store parts on a pegboard. So, I designed a model that would use the existing cap versus trying to make a threaded fitting. I prefer using the simple solution and fastened the original lids with 2 4-40 screws and nuts. The baby food jar lids were 50.5mm in diameter at narrow part (without lip).
This is designed for pegboard with 1 inch spacing. These fit perfectly into pegboard from Home Depot (see photo).