In the Maker Shed: Peggy 2 LED display kit

Peggy 2 is an updated version of the original Peggy light-emitting pegboard display. Version 2 adds simple animation capability and Arduino compatibility. Like its predecessor, the open-source Peggy 2 provides a quick and efficient way to drive up to 625 LEDs.
Source: http://blog.makezine.com/archive/2011/01/in_the_maker_shed_peggy_2_led_displ_1.html
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