Right now my budget is limited (moving states will do that to you) so I used a $4.00 set of 2" binder rings and $4.00 worth of medium binder clips to make my version of a clip it up. The area I have to work in is a nice big closet (the whole room is my work from home office, scrapping area and our 2nd guest room) so the hanger rod was already in there and why fix something if it isn't broke. Haha! Plus, we are renting the house so I don't want to do anything too permanent.
It works great and will be easily expandable. I have 1 or 2 binder clips per ring depending on what I'm hanging. I have all my letter stickers (thickers mostly) together, themed rub-ons and stickers grouped together in the middle and my flocking, foil, glitter sets from sb.com (great deal) at the other end. It works great because it's right above my head when I'm scrapping.