Pegging can have two common meanings, depending on context:

• Everyday usage: to peg someone or something means to identify or categorize them, often based on an impression or a specific attribute. For example, you might say you’ve pegged someone as cautious or you’ve pegged the price at a certain level. This sense is about making a quick judgment or assigning a label.

• Sexual practice: pegging refers to a sexual act in which one partner (typically a woman) uses a strap-on dildo to penetrate the other partner's anus. The term was popularized in modern discussions of sexuality and gender dynamics, and it’s discussed in sources that describe its practice and social context.

If you had a particular sense in mind (e.g., a workplace context or a sexual context), I can tailor the explanation and examples to that usage.