The nickname "Peggy" for Margaret is a result of a historical rhyming practice. The name Margaret was often shortened to "Meg" or "Meggy" as a diminutive form. Over time, in a playful linguistic twist common to the Middle Ages, "Meggy" transformed into "Peggy" through rhyming. This practice of creating rhyming nicknames was quite popular and is seen with other names as well (e.g., "Rick" to "Dick" for Richard). The exact reasons for these specific rhymes are not always clear, but they have persisted through the centuries and are now traditional nicknames for these names.
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