[GlebShalimov]

Why?

[InsideOutSanta]

It reads like a portmanteau of pegging and smegma. Hope that helps, although I'm afraid it will do the opposite.

[mtizim]

For me it's also that it works as a joke setup, just like "ligma" or "updog".

[tecleandor]

There's certain sexual activity called pegging. I guess that's what could come to mind here :)

[GlebShalimov]

Oh, I didn't know