70s vintage wood mug rack, triangle shape accordion folding wall hanger w/ pegs

This is a very unusual expandable mug rack... I've seen hundreds of these over the years, but this is the first one I've ever seen with this 'christmas tree' shape! It's a cute little thing, 17" stretched out to nearly flat, but more like 13" x 9" set more comfortably.

It's marked Japan, probably 1970s vintage. It's in very good clean condition overall. You could use this for coats, or hanging jewelry or craft supplies instead of coffee cups. Or kitchen utensils, or tools, or just about anything else you could think of.