Clean your log, sand, and coat with a natural finish such as shellac, wax, oil, or stain.
Step 2: Nail
Position and space nails across the log for hanging keys, rings, jewelry, or whatever else you would like.
Step 3: Pegs Instead
You can use small branches instead of nails if desired. Just cut and sand some small branches to make pegs. Then pre-drill a whole the same size as the peg, add some glue, and insert (use a hammer if needed).