First, decide which pattern of the peg holes you will build. There is a four-peg board for Ulithi and Fais, a five-peg board for islands further to the east including Woleai, and a five-peg straight line board sometimes used on Satawal.
Another option is to make a single board with holes for more than one of the different patterns.
For all patterns there are also usually additional holes just beside the outer corner holes that allow for wrapping of longer lavalava. Note that all these “outside” holes can be drilled at a very slight angle so the pegs will point outwards, allowing for more tension during the wrapping.
With all boards, you may also choose whether or not you will place it on legs (fixed or removable). You may also choose to make a board that folds for easier transportation and storage.