That's actually a trickier question than you'd think. Your suggestion is one (though it's often done edge-down), then there are versions with square dowels that the blades go between (but that hides the blades, if they're fancy).

What I think I'd like is a wood-covered magnetized slab held at an angle, which would have both the blades and handles shown while not looking like a dinky little knife strip on the fridge (which is what I have no, and looks ridiculous with a bunch of 10" knives on it).