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1.
A guinea pig. They are good for petting. And also delicious.
1) "'Wheek wheek!' went the peeg."

2) "I wish I had a peeg."

3) "Look, over thar! An adorable little peeg!"

4) "Every sexy Jedi Knight wishes she had a peeg. For snuzzling."
by jedifreac January 16, 2008
75 52
 
2.
The shortened vocalization of the abbreviation PG, which stands for pregame. Pronounced: "peej"
As a verb:
"Let's go out now!!"
"Hold up we gotta peeg some more first. I'm practically sober!!!"

As a noun:
"When is the peeg?"
"Beer bongs and shots will begin at 9pm."
by tacs February 12, 2013
14 9
 
3.
a special force, similar to Chi, that is reserved only for the 1337 and is harmful to the weak.
that muthafucka was fuckin' sweatin me, so i used my Peeg on em' an' he don't sweat me no mo'.
by Hellawk123 October 09, 2003
26 33