Another name for a Cribbage-board.
"If he thinks that he can beat me then tell him to go get his peggerwood"
"Your understanding of Cribbage has more holes than peggerwood"
A small piece of wood with 61 to 121 holes that is used to keep score in the game of Cribbage.
"Grab the Cribbage-board off of the table, I'll show that old bag that grandpa can still use his peggerwood"