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A pegboy was a young man kept on pirate ships by pirates. This young man was forced to sit on a large wooden peg...all the time. Anyway, this was done so that whenever a pirate wanted to drop his anchor (so to speak) he'd have no problem.
Come here pegboy, I want some of those sweet cheeks.
pegboy by Dirty Sanchez August 27, 2003
Related Words
pegging peg Peggy pegged pegasus pegina pegleg Peggy Sue pegger peggle
(p.e.g. is a term commonly used in the narrative of the fifth release of the far cry franchise.)

PEG - an acronym for "Project Eden's Gate"

-a PEG refers to anyone allied w/ FC5's antagonist, a cult known as, "the project at eden's gate." the protagonist, i.e., player, aims to take down the cult (& anyone affiliated) therefore all allied communication refers to cult-affiliates as PEG or PEGGIES.
GUY: i may never have gone to war but if them fuckin peggies come after my family - i'm m sure as hell gonna give them war.
PEGGIES by idtst May 28, 2018
A smoking hot babe with legs that'll make god himself sin
Jack: Dude, you seen the legs on Rachel
Kyle: yeah, she a Pegasus bruv
Pegasus by Rencumminhard February 16, 2019

Pegasister 

A new, but not yet official, term for females who watch and enjoy My Little Pony: Friendship is Magic. They are mostly in the same age group as your ordinary brony. There is no different brohoof for pegasisters, so it's pretty much the same as being a female brony.

Related words: brony, brohoof, pegasis, My Little Pony
Brony: Welcome to the herd, fellow brony.

Pegasister: What? I'm not a brony. I'm a pegasister.
Pegasister by Meggie Mayhem October 1, 2012
Post Ejaculatory Guilt Syndrome, or PEGS, is a little known but widely experienced sexual dysfunction which lasts for approximately 5 minutes after the male orgasm.This can occur both after sexual intercourse and more commonly following masturbation. During this period the male in question will find himself completely unattracted to the person or subject matter concerned in the previous activity. The male may also experience emotions of disgust or dislike towards both themselves and any other people they interact with during the PEGS period.
1. Jordan - "The second after I jizz when having a wank I instantly switch off the porn, clean up and feel a bit dirty."

Andrew - "Classic PEGS ha"

2. On a one night stand the second you have cum you quickly make an excuse and get the hell out of there! This due to the post sex PEGS period.
PEGS by Fagzy May 7, 2010

pegasus xing 

A yellow caution sign indicating that a Pegasus (winged horse) may be crossing your path at any moment.
"Slow down dude!! Can't you read? Pegasus Xing."
pegasus xing by SeaBat June 11, 2006