Meaning Of Peg

n.

A small, pointed piece of wood, used in fastening boards together, in attaching the soles of boots or shoes, etc.; as, a shoe peg.
n.

A wooden pin, or nail, on which to hang things, as coats, etc. Hence, colloquially and figuratively: A support; a reason; a pretext; as, a peg to hang a claim upon.
n.

One of the pins of a musical instrument, on which the strings are strained.
n.

One of the pins used for marking points on a cribbage board.
n.

A step; a degree; esp. in the slang phrase "To take one down peg."
v. t.

To put pegs into; to fasten the parts of with pegs; as, to peg shoes; to confine with pegs; to restrict or limit closely.
v. t.

To score with a peg, as points in the game; as, she pegged twelwe points.
v. i.

To work diligently, as one who pegs shoes; -- usually with on, at, or away; as, to peg away at a task.