A few months ago I bought PlumGirl a peg board and made her some cards to go with it so that she would practice her color matching. She played with it a few times, but really was not too interested in it.
Fast forward to the last month or so, and she has been using it quite a bit. She likes to do all the pegs of one color and then move on to the next. When I am doing this with her I help her count how many she need of each color, how many she has done, how many she has left, and so on.
The sheets that came with the board are actually quite fun now that she is older and the ones that I made got recycled.
PlumGirls does not like the white side of the sheets at all. Her interest in this toy is definitely for the color matching and not yet for any creative use.