This jig will hold standard #2 pencils so you can engrave them. I made it so the risers that hold the pencils comes out for easy storage or you can glue them into place.
I used 5mm birch plywood from home depot the holes for the pegs are set to 4.82mm by 6.9mm that makes it a good fit so you can remove the pegs for easy storage or if you want glue it together. If you use thicker or thinner wood you need to change the 4.82mm to correct size for the wood you use.