¦ noun
1. a short projecting pin or bolt used for hanging things on, securing something in place, or marking a position.
a clip for holding things together or hanging up clothes.
a place marked by a peg and allotted to a competitor to fish or shoot from.
2. a point or limit on a scale, especially of exchange rates.
3. informal a person's leg.
4. chiefly Indian a measure of spirits.
5. chiefly Baseball a strong throw.
¦ verb (pegs, pegging, pegged)
1. fix, attach, or mark with a peg or pegs.
2. fix (a price, rate, or amount) at a particular level.
3. informal, chiefly N. Amer. form a fixed opinion of: the officer probably has us pegged as anarchists.
4. chiefly Baseball throw (a ball) hard and low.
Phrases
off the peg Brit. (of clothes) ready-made.
a square peg in a round hole a person in a situation unsuited to their abilities or character.
take (or bring) someone down a peg or two make someone less arrogant.
Phrasal verbs
peg away informal work hard over a long period.
peg out
1. informal, chiefly Brit. die.
2. score the winning point at cribbage.
3. Croquet hit the peg with the ball as the final stroke in a game.
Origin
ME: prob. of Low Ger. origin.