Universal Panel Latch

I wanted a clip/latch which wouldn't make the job harder when removing the panels (by falling out of place). I looked on here but found nothing to my liking, so I created this latch.
Drilling a 1/4" hole through the panel (while making sure the hole is far enough over to allow the inside latch to clear the edge when turned) allows you to clip the two parts together. The outside knob should make contact with the outside wall so no matter which way it is turned (provided you drilled the hole correctly) it will stop the panel from going inwards making it easy to install the panels without overpassing the panel's position.
The two are connected via a square peg which allows the inside catch to be installed in any 1 of 4 positions available while keeping the image upright and the finger grips on the sides when "locked". The image on it right now is a wolf howling, but you can change it out for whatever you want.
It fits a wall thickness of 3/16". I used a piece of 1/8" plexiglass for