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.
(verb)
Written in the comments of an Instagram/general image post to show that you like the picture. Its a reference to the firstlyric of the song "Peg" by Steely Dan, which goes "I like your picture." Not as formal as writing "I like that picture of yours," but not as informal as just pressing the like button
Charles: "Whoa, Kimposted a hot pic on her IG. It gets a Peg from me"