I'm not sure if it qualifies as frugal, but it definitely has come in handy a few times. It's an extendable magnetic pick up tool from Northern Tool. I just stick it to the leg of my desk, and grab it whenever a hook decides to escape. Cost around ten bucks (this was before the recent inflation).
Recently I ordered a Yeti and a pack of hooks, which opened during transit.
The tool made quick work of the mess.
The very first day I had it, I did a sweep and it picked up a #10 hook I had somehow unknowingly lost.