For different carving tools, knives and other sharp things a magnet strip is a good idea because it keeps your hands safe while you’re storing them. For a rainbow knife strip you’ll need a miter saw, a table saw, a router and router table, palm sander, various clamps, rare earth magnets, two part epoxy, scrap wood, food safe wood finish and keyhole hangers. First, make a bunch of scrap wood material and cut a strip of scrap material off of the end cutting across the board. If you need a very long strip – cut two and glue them together. A more detailed instruction is here.