Seeing a peg in your dream signifies a high-ranking person, a mentor, or an academic figure. If you dream of hitting someone with a wooden stick, it indicates that you will give birth to a son who will grow up to be successful. This dream symbolizes the unveiling of new possibilities in your life and reflects your ambitions.
From Imam Muhammad Ibn Seerin's Dictionary of Dreams According to Islamic Inner Traditions â entry "Peg" (page 324).
In a dream, a peg represents a high ranking person, a master, or a scholar. If a young man hits someone over his back with a wooden stick in a dream, it means that he will beget a son who will grow to be a hypocrite and an enemy to his father. Unplugging a peg or the pole of a tent in a dream means death. Driving a peg into the wall in a dream means liking to associate oneself with a great person. Driving a peg into a house in a dream means being in love with a woman from that family. Driving a wooden peg or a pin into wood in a dream means liking to befriend a teenager who is also a hypocrite. A metal peg in a dream represents money, strength, pain, distress, sorrow, or rising to a high ranking position to become firmly established therein. It also means being drafted to accept a governmental position, or it could mean impeachment from office or travels. If a peg is interpreted to represent a son or a wife in a dream, then it denotes longevity. Standing on top of a pole in a dream means acquiring knowledge from a great scholar. A peg in a dream also implies money, love, marriage, distress, sorrow, or hypocrisy.
Note: Islamic dream interpretation depends on the dreamer's circumstances and state. This is a general guide drawn directly from the source book.