Fabric-covered Canvas Key Holder

I hate to see something go to waste, but I also hate to see junk lying around.  I had a little extra fabric from recovering some seat cushions and wanted to use it for something, but I wasn't sure what.  It's been hanging out in the utility room for a while, until I saw an idea while browsing Pinterest.  The ideas that I saw on Pinterest were more geared towards jewelry, but I needed something to hang keys on so here's what I came up with:

1.  I purchased a 12" x 12" square canvas from Michael's. 

2. I cut the fabric that I had a few inches bigger than the canvas, and the wrapped it almost like a present.  Don't forget to wrap it tightly, and be sure to iron the fabric before you start if it is wrinkled.  I secured the fabric to the back with staples.

3. I pre-drilled holes in the bottom of fabric-covered canvas with a small bit, and then screwed in hooks that I picked up at Home Depot.  They only had brass and silver, but I'm sure they could be spray-painted for a particular look.

Voila!  Here it is on the wall:

This project didn't take very long at all, and now that I have all of the hooks it would be easy to do again.  Christmas gift anyone?