Pegboard hooks how do you know the correct type

I bought a lot of 1/4" thick pegboard to finish the inside of my workshop. When looking for hooks on ebay its listed as for 1/4 or 1/8 and some 1/8 or 3/16. Does this mean for 1/4" thick or 1/8 thick or is it the hole size? They also list a universal type that fits all, i guess i need to know what to use with my 1/4" thick pegboard with 1/4" holes?
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