I picked up the OEM toe hooks off a Chrysler dealer on ebay - I think I got them for around $125 shipped. Then, I ordered the lower insert with the holes cut out already from my dealer - that part was $12.00. I figured that was easier than me hacking the stock piece with a dremel.
Once you pop out that lower plastic piece (there are some retaining plastic buttons on the top - I think 4 across), you can then install the new trim piece and then the tow hooks. I didn't even jack up the vehicle to do it - took me about 45 min total in my driveway with a couple sockets and some elbow grease.
Unless you have a Sport, you should be able to order that plastic trim piece from the dealer fairly easily. I have an SLT Big Horn and the part was available.
Check ebay before you order the hooks from the dealer - I was able to save about 30 bucks over what the dealer wanted.
2010 Dodge Ram 1500 SLT Big Horn, Crew Cab HEMI
2012 Jeep Grand Cherokee Limited