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Short form of the feminine name "Peggy." Peggy, in turn, is often used as a shortened form of "Margaret," for reasons not entirely clear to this author.
Hey, Peg! Peg? Hey, PEGGY - get over here!
by Rod Brock July 29, 2006
v. a woman takes and puts on a strap-on on dick, and has unprotected premarital sexual intercourse with a male's butt hole
Maryam pegged for multiple hours last night.
by TRODGOR February 05, 2008
urban slang to describe having sex, often used by young egotistical males who think that every attractive girl who walks by wants to have sex with them. Will often refer to these young girl as "fitties"!
"ah man, i'd take her down a peg or two"

"I'd like to peg that bit of pink"
by Tchock June 05, 2007
A butch lesbian
"If you don't wear nail polish, you're probably a Peg"
"If you use bar soap, you're probably a Peg"
"If you eat hard boiled eggs out of a plastic bag, you're probably a Peg"
"If you are a female and have a mullet, then you're probably a Peg"
"If you wear wind breakers, then you're probably a Peg"
"If you use Head and Shoulders, then you're probably a Peg."
"I you don't have a cover on your cell phone, then you're probably a construction worker Peg"
"If you shave your face, then you're probably a Peg"
by Crackie19 August 16, 2011
Por El Gane: Is spanish translation to the classic FTW
Dr. Pepper PEG!
by memosoto August 01, 2011
means "please eat my gonads". usually has initial of person you are referring to, for example, "mpeg". Coined by brendan clark after he created it in regards to aidan byrnes.
Aidan wants LPEG or MPEG!
by brackenn November 27, 2010
The penis

To peg: To have sex
Get your peg out!

He can peg me any day
by House 21 November 22, 2007