A wall panel for holding an accessory, the wall panel having a recessed slot, at least a portion of which has an undercut and a shaped opening in communication with a portion of the recessed slot and the undercut. The shaped opening may be capable of receiving a shaped attachment member of an accessory, the shaped attachment member then being slidable within the undercut and the recessed slot beyond the limits of the shaped opening. A plurality of wall panels may be adapted to form a wall panel system.