Webster's English Dictionary

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peg

1. peg \'peg\ n [ME pegge] 1a: a small usu. cylindrical pointed or tapered 
   piece (as of wood) used to  pin down or fasten things or to fit into or 
   close holes : PIN, PLUG Brit  1b: CLOTHESPIN  1c: a predetermined level at 
   which something (as a price) is fixed  2a: a projecting piece used as a 
   support or boundary marker  2b: something used as a support, pretext, or 
   reason  3a: one of the pins of a stringed musical instrument that are 
   turned to reg ulate the pitch of the strings 3b: a step or degree esp. in 
   estimation  4: a pointed prong or claw for catching or tearing  Brit  5: 
   DRINK  6: something resembling a peg  7: THROW 
2. peg vb or pegged;  or peg.ging 1a: to put a peg into  Brit  1b: to pin 
   (laundry) on a clothesline  1c: to pin down : RESTRICT  1d: to fix or hold 
   (as prices) at a predetermined level  1e: to place in a definite category  
   2: to mark by pegs  3: THROW  1: to work steadily and diligently  2: to 
   move along vigorously or hastily : HUSTLE 
3. peg or pegged \'peg\ \'pegd\ aj : wide at the top and narrow at the 
   bottom {~ pants}