We bought (2) 24×48″ pegboard and 1 qt of semi gloss Valspar paint in the dark gray I liked (the paint is paint + primer).
First I set up the pegboard on top of plastic sheets so I didn’t get paint everywhere. Then I used a paint brush to apply one coat of paint. If you don’t mind doing extra coats, going light on the paint is good so it doesn’t seep into the holes and block them. Some people said spray paint worked better, but we don’t have a spray painter so I opted for a regular brush.
This is the pegboard (still wet) after two coats. I went a little heavy on the paint for the 2nd layer which did result in some paint possibly clogging the holes, but I’m going to poke through them later if needed. I’m not terribly worried about it.
I really love the baskets, although I was hoping they’d be a little bigger. The biggest basket is the perfect size for disposable diapers. I have a couple long pegs that are perfect to hold clothes on there. There’s G’s birthday outfit on the left. Yay!