Pegboard sheets come in various sizes, ours is 4' x 6'. The surrounding frame is made with 1x3 boards with one vertical board running through the center of the pegboard.
Locate and mark the studs in the wall. Use a stud finder or a hammer and nail to identify the studs.Paint the face side of the pegboard before it is installed onto the wall. Paint the pieces of the frame to match the pegboard.