peg (Noun) — A wooden pin pushed or driven into a surface.
peg (Noun) — A small marker inserted into a surface to mark scores or define locations etc..
peg (Noun) — Informal term for the leg. ex. "fever left him weak on his pegs"
peg (Noun) — A prosthesis that replaces a missing leg.
peg (Noun) — Regulator that can be turned to regulate the pitch of the strings of a stringed instrument.
peg (Noun) — A holder attached to the gunwale of a boat that holds the oar in place and acts as a fulcrum for rowing.
peg (Noun) — Wood or plastic fastener; for holding clothes on a clothesline.
peg (Verb) — Succeed in obtaining a position. ex. "He pegged a spot at Harvard"
peg (Verb) — Pierce with a wooden pin, knock or thrust a wooden pin into.
peg (Verb) — Fasten or secure with a wooden pin. ex. "peg a tent"
peg (Verb) — Stabilize (the price of a commodity or an exchange rate) by legislation or market operations. ex. "The weak currency was pegged to the US Dollar"
peg (Verb) — Ascribe an attribute to (a person); categorize.
peg (Verb) — Attach laundry to a line with clothes pegs.