A blank, white wall can be intimidating or inspiring. Do you leave it as is and own the emptiness? Do you hang a bunch of prints, or shove a cabinet in front of it? You could do any one of these things, or you could take a note from Adrienne Antonson's Brooklyn apartment and hang a wall of black pots (with a few handy tools thrown in). In addition to being a functional storage solution for her pans, the black and white contrast makes for a great display. As a bonus, Adrienne says the radiator below heats up the pots for her, so they're already toasty warm when she puts them on the stove.
Related: 5 Tips for Hanging a Kitchen Pegboard
(Image: Isabelle Selby via Design*Sponge)

Red-and-Pink-Stripe...

This looks so much cleaner than a pegboard. Forgive me, Julia!!!
I don't like to see the bottom of pans, and even when they are drying on the drainer, I turn them so they are not pointing towards me.
For years I've used metal grids mounted on the wall to hang my pots and pans. I've had small kitchens, and wall hanging them not only saves cabinet space it makes it very easy to grab the exact pot I want. The lids are stored in wall-mounted lid racks.
I would be afraid that the wall would end up with black rings or grease stains from the cast iron. My pots and pans are also rather heavy.
Do people find this leaves marks or bangs up the drywall in anyway? Just curious.
Not of fan of exposed kitchen utensils aside from the pitcher or container you keep your wooden/cooking spoons. Looks too much like a cafeteria to me rather than a home. If you are short on storage, this solution is understandable. I don't care for the peg board option either.