Meaning of "Peg" by Steely Dan

The lyrics of "Peg" can be interpreted as a commentary on the allure and transient nature of fame and success. The song presents Peg as a symbol of someone who has achieved their dream and is now basking in the limelight. The repetition of the lines "Peg, it will come back to you" can be seen as a reminder that the attention and recognition Peg receives will eventually fade, emphasizing the cyclical nature of fame. The lyrics also allude to the idea that success in the entertainment industry is often accompanied by superficiality and a need to maintain a carefully crafted image. The references to Peg's photo, the pin shot, and the camera capture the idea of capturing and preserving moments of fame, while the mention of the blueprint-blue letter suggests a scripted and calculated approach to one's public persona. Overall, "Peg" reflects on the fleeting nature of success and the sacrifices and illusions that can come with it.