I bought a poster frame at Target (clearance for a couple bucks).
I cut a peg board to the dimensions of the frame
(the guy at Home Depot can do this for you if you don't have a saw)
I took 3 scrap pieces of wood and mounted them to the wall where I wanted the pegboard to hang (top, middle and bottom). You want the peg board to come out from the wall and not sit right on the wall because the hardware will go through the holes and mess up your drywall. Don't make the wood too big though, because it will block the holes.
I screwed the pegboard to the pieces of wood.
I placed the frame right on the peg board and secured it with some hot glue.
On my dresser I have a silver dish for small earrings and flower pins.
You can also see my thrift store painting that I love, but Mr. Jones does not love, so I propped it up on my dresser. It really softens the very modern furniture I have in my closet.
Stop by Simply Brookes to see some other jewelry storage ideas.
Where do you keep your jewelry?