Available Definitions:
1) n. - The act or process of fastening with pegs.
2) n. - 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) n. - One of the pins of a musical instrument, on which the strings are strained.
4) n. - One of the pins used for marking points on a cribbage board.
5) n. - A step; a degree; esp. in the slang phrase "To take one down peg."
6) v. t. - 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) v. t. - To score with a peg, as points in the game; as, she pegged twelwe points.
8) v. i. - To work diligently, as one who pegs shoes; -- usually with on, at, or away; as, to peg away at a task.