Cute idea - DIY hook rack for bags, purses, scarves, etc. Put this in the closet to hang the stuff that doesn't go on hangers? You can pick whatever knobs you want and just screw them into a piece of wood painted whatever color you want.
This would be a neat Valentine's Day gift. if I could bring myself to punch holes in a book. Maybe I could use old magazines instead. Punch a hole in the shape of a heart into an old book and arrange them into a frame for a decoration.