Drill these holes for every pilot hole on your piece of wood.
After all of your holes are drilled, put your knob screws through the holes and tighten the nuts (and washers, if they come with) around the screws. You may need needle nose pliers (or super tiny fingers) to get the nuts screwed in tightly.
Once you have tightly screwed all of your knobs in, you might see that the screws poke out past the thickness of the wood. If your wood is thicker than mine, you might not have this problem. I didn't want my screws poking out because I wanted my necklace holder to be flush against the wall, or for the screws to scratch up the wall. Enter.....the hack saw! (sounds way scarier than it is)
I've heard of hack saws before, but never seen or used one. Dang this was awesome (to watch). It took a little elbow grease, but using the hack saw you can saw off the ends of your screws that are poking out, so that they are even with the wood. Once your wood and screws are evened out, it's time to hang this bad boy!
I already had sawtooth picture hangers at home, so I went ahead and used those. I just nailed in one on each end of the wood, to keep the holder level when it was hanging.
I just measured the distance between the middle of the two sawtooth hangers, and then hammered 2 nails into the wall that distance apart, and hung up my fancy new necklace holder!