Pegbox

A tuning peg is used to hold a string in the pegbox of a stringed instrument. It may be made of ebony, rosewood, boxwood or other material. Some tuning pegs are ornamented with shell, metal, or plastic inlays, beads (pips) or rings.

Turning the peg tightens or loosens the string, changing the pitch produced when the string is played and thereby tuning it.

A pegbox is the part of certain stringed musical instruments (violin, viola, cello, double bass, lute) that houses the tuning pegs.

Friction pegs are most often used on violin family instruments (not on the double bass, which typically uses geared tuning machines.) They are also used on older instruments, such as the Bulgarian gadulka and the hurdy-gurdy, as well as on flamenco guitars.

A properly working peg will turn easily and hold reliably, that is, it will neither stick nor slip. Modern pegs for violin and viola have conical shafts, turned to a 1:30 taper, changing in diameter by 1 mm over a distance of 30 mm. (Modern cello pegs have a slightly more aggressive 1:25 taper. 19th century and earlier pegs, for use with gut strings, typically had an even steeper taper of 1:20.)

The taper allows the peg to turn more easily when pulled out slightly, and to hold firmly when pushed in while being turned. Since the typical wear pattern on a peg shaft interferes with this action, pegs occasionally require refitting, a specialized job which amounts to reshaping both pegs and holes to a smooth circular conical taper.

...
Wikipedia