Rusty hooks - What do you do with them?

Vice grips and a wire wheel on my bench grinder. Then sharpen on my little electric sharpening wheel.

Soak in vinegar to remove rust.  WD40 is short for "Water Displacement Formula #40." It has solvents that attack rust, but it's far from good at it.  Acetic acid (vinegar), however, directly reacts with iron oxides to dissolve them.  After a soak in vinegar (agitation helps), then spray with WD40 (or any other favorite light oil/solvent) to slow future rusting or paint them as you were.

Good tip, dumping my hooks into a vinegar solution and they will go back to WD40 solution after 

Quick update on the rusty hooks in the vinegar solution.  They've been soaking for over 24 hours now and the vinegar seems to be working and even remove the red paint (varnish?) from my red hooks.  Looking good!