From the root "peter," refering to the show's main character.
Kevin: Dude, shut up. That's such an old "Family Guy."
Joe (to self): Damn, petered out again...
The "Georgia Magnet": A Statce to Mr. H. W. Schneider at Barrow. The Manchester Guardian. November 23, 1891. Page 8. Viewed in ProQuest Historical Newspapers.