Though I am knitting on needles a lot more these days, I still love to put yarn onto a knitting board. I think it's fun to use many different ways to make items. The board I have has different types of pegs than the pic here but it looks very much like this. I have the Knittingboard 28 peg extender board. The gauge of the pegs are very close together so it makes it easy to double knit.
You may be wondering why there's a crochet hook in the picture next to the knitting board. Glad you asked! It's used for the cast on. It's called the crochet cast on and where you use the hook to guide the yarn onto the pegs to get ready to knit.
I would say it's a learning curve to knit on a board for me, that's because the pegs are so close together. I've been used to larger gauge looms where you double strand your items but with the knitting board, you don't have to do that. The stitches are a lot smaller and closer together and mimics what knitting on needles would look like on a finished piece.
Right now, I'm making a cowl on my circular kitting loom which is coming out really nice and I'm just using a simple stockinette stitch to work the pattern.
If you're interested in loom knitting on a board, I've included a playlist of video tutorials from KnittingBoard's YoutTube channel. If you can't view the playlist, click here!