Not sure how well these pics will come out. But here is the MKII pivot Pegz hanger
It allows the peg to fold back and of course pivot. It can be adjusted for height through 4 positions due to the use of 2 unequal spacers per side. Currently set down 8mm per side (not 8mm from stock, just from this designs highest point)
I have not made up return springs for the Pegz yet, just trying them out first.