What is this game with a 12x8 pegboard and 59 double sided pegs?
your pegboard looks like an earlier or a later edition of the plastic pegboard we have at the psychology museum. All pegs have two colors like yours. Among other things these and other pegboards were developed for testing dexterity in recruitment contexts and for testing and training eye-hand-coordination in neuropsychology. In neuropsychology it helps to assess neurological damages. Our version has the imprint "U.S.E.S. PEGBOARD". The abbreviation stands for "United States Employment Services". We got our exemplar donated though from the psychological laboratory of the Otto Wagner Hospital in Vienna, a psychiatry.