1. Someone with only a missing leg that has been replaced with a prosthetic one. Potentially offensive when used in reference to someone else. (Drawn from the image of pirates with wooden pegs used in place of missing legs.) A: "Who's the peg-leg over there?" B: "Dude, he's a world-class Paralympic athlete. Show a little respect."

2. A prosthetic leg. Potentially offensive when used in reference to someone else. I took off my peg-leg while I sat down on the park bench, and some damned kids ran away with it!

3. By extension, someone who walks with a limp. Can be used as a derogatory term for someone with a genuine disability, or as a jocular term when someone or oneself has a temporary limp. He's been a bit of a peg-leg ever since the car accident. A: "Why are you walking around like a peg-leg?" B: "My foot fell asleep!"