Decide the number & size of clothing items (tank tops in this case) you will hang. Space & mark holes then drill all the way through both pieces of wood.
Screw cup hooks in to each hole drilled on both sides. Don't worry about the screw end of the hooks protruding beyond the wood. We'll fix that in a minute.
Cut a section of a pool noodle the length of the wooden portion if the hanger.
From the noodle, cut a section about an 1-1.5" inches wide. Then trim so it's roughly rectangular in shape.
Add some craft glue to both sides of the noodle. Place the foam between the two wooden sections to give the screws something to attach to close by flipping up the hanger. Construction is complete.
I put 12 hooks on each side which allowed me to hang 24 tank tops in the space of about 4 hangers. If your tanks are thicker, you could use bigger hooks and space them farther apart.
You can still see all your tank tops easily. If you're short on closet space or hangers, this is 6 times more compact & saves you 23 hangers. Could be used for belts, scarves or necklaces as well.