What you need:
empty toilet roll
Separate the clothes pegs in half.
Stick the half clothes pegs to the outside of the toilet roll.
Try to distribute the clothes pegs evenly on the roll.
Cut off the rest of the toilet roll with a knife or scissors.
Glue eight clothes pegs next to each other. The tops show to the left and the right alternately. The flat side of the clothes pegs shows up. Apply two more clothes pegs onto the two edges of one
Glue the roll into the other corner.
If you like, you can paint or varnish the pencil holder, too.