Pegboards are really just another form of mosaics because the same patterns can be used. I have done a series of colouring pictures using the same designs.
The advantage of pegboards is that they can be reused forever, so they are a good, long-term investment.
The Giant Pegboard and pegs are big enough to escape being a swallowing risk. The 25-hole pegboard is thick and sturdy and should work beginning in ACL 3.6 to 4.2.