An adjustable mounting and method for a wall hanging utilizes a disc mounting element secured to the wall with a threaded fastener passing through an eccentrically located hole. The disc is rotated to bring the top of a groove to a desired position and the fastener tightened to secure the disc in the adjusted position. The wall hanging has one or more supports which are engaged with the top of the disc perimeter. A peripheral groove engaging the support may be defined by continuous flared sides or two series of offset outwardly flared teeth. A stepped depth groove can better engage toothed supports.