1. (n.)peg a cylindrical or tapered pin of wood, metal, etc., driven or fitted into something as a fastening, support or stopper.
2. peg a notch or degree: to come down a peg.
3. peg an occasion, basis, or reason: a peg to hang a grievance on.
4. peg one of the wooden or metal pins in the neck of a musical stringed instrument that are turned to adjust the pitch of the strings.
5. peg Informal. a leg.
6. peg Informal. a hard, accurate throw, esp. in baseball.
7. peg Brit. an alcoholic drink, esp. a whiskey or brandy and soda.
8. (v.t.)peg to fasten with or as if with pegs.
9. peg to mark with pegs.
10. peg to strike or pierce with or as if with a peg.
11. peg to keep (a price, exchange rate, etc.) at a set level.
12. peg Informal. to throw (a ball) forcefully.
13. peg Informal. to identify: to peg someone as a good prospect.
14. peg to base upon: The feature story was pegged on the riots.
15. (v.i.)peg to work persistently.
Etymology: (1400–50; late ME pegge (n.), peggen (v.) < MD)
Definition of 'peg'
Princeton's WordNet
1. (noun)peg, nog a wooden pin pushed or driven into a surface
2. (noun)peg, pin small markers inserted into a surface to mark scores or define locations etc.
3. (noun)pin, peg, stick informal terms for the leg "fever left him weak on his sticks"
4. (noun)peg, wooden leg, leg, pegleg a prosthesis that replaces a missing leg
5. (noun)peg regulator that can be turned to regulate the pitch of the strings of a stringed instrument
6. (verb)peg, pin, thole, tholepin, rowlock, oarlock a holder attached to the gunwale of a boat that holds the oar in place and acts as a fulcrum for rowing
7. (verb)nail down, nail, peg succeed in obtaining a position "He nailed down a spot at Harvard"
8. (verb)peg pierce with a wooden pin or knock or thrust a wooden pin into
9. (verb)peg, peg down fasten or secure with a wooden pin "peg a tent"
10. (verb)peg stabilize (the price of a commodity or an exchange rate) by legislation or market operations "The weak currency was pegged to the US Dollar"
1. (noun)peg a long pointed object used to fix sth in place tent pegs
2. peg a hook on a wall for hanging coats on Put your coats on a peg.
3. peg clothespin a peg to hang up the clothes with
Definition of 'peg'
Webster Dictionary
1. (noun)peg a small, pointed piece of wood, used in fastening boards together, in attaching the soles of boots or shoes, etc.; as, a shoe peg
2. (noun)peg a wooden pin, or nail, on which to hang things, as coats, etc. Hence, colloquially and figuratively: A support; a reason; a pretext; as, a peg to hang a claim upon
3. (noun)peg one of the pins of a musical instrument, on which the strings are strained
4. (noun)peg one of the pins used for marking points on a cribbage board
5. (noun)peg a step; a degree; esp. in the slang phrase "To take one down peg."
6. (verb)peg to put pegs into; to fasten the parts of with pegs; as, to peg shoes; to confine with pegs; to restrict or limit closely
7. (verb)peg to score with a peg, as points in the game; as, she pegged twelwe points
8. (verb)peg to work diligently, as one who pegs shoes; -- usually with on, at, or away; as, to peg away at a task
Definitions of peg 
Afrikaans: pen
Arabic: وَتَد
Bulgarian: клечка
Brazilian: estaca
Czech: kolík
German: der Pflock
Danish: pløk
Greek: πασσαλίσκος
Spanish: clavija, estaca
Estonian: vai
Farsi: میخ
Finnish: tappi
French: piquet
Hebrew: יָתֵד
Hindi: खूंटी, मेख, कील
Croatian: kolčić
Hungarian: pecek
Indonesian: patok, pasak
Icelandic: pinni, tittur
Italian: paletto
Japanese: くぎ
Korean: 말뚝
Lithuanian: kuolelis, kaišt(el)is
Latvian: mietiņš
Malay: pasak
Dutch: pin
Norwegian: pinne, plugg
Polish: kołek, zatyczka
Persian: میخ
Pashto: مږوى
Portuguese: cavilha
Romanian: ţăruş
Russian: колышек
Slovak: kolík
Slovenian: klin
Serbian: klin
Swedish: pinne, sprint, bult
Thai: ตะปู
Turkish: işaret çivisi, küçük kazı
Taiwanese: 木或金屬釘，栓，樁
Ukrainian: кілочок; дерев'яний цвях
Urdu: کھونٹا
Vietnamese: miếng gỗ/ thép
Chinese: 木或金属钉，栓，桩
