I'm old enough to have been a young adult in the 1980's. This article is mistaken. Pegged pants were not "extremely popular" then. I can't recall ever seeing anyone wearing them in the 1980's.
Pegged Pants -Edit
When I was in high school - Lafayette CA 1959 - some kids used to "peg" their pants - levi's which involved adding to the seams at the lower leg making them as tight as possible and still be able to get their feet through them. They would also roll the bottoms up - depending on which group you ran with... and there were "Greasers" and "Surfers" The Greasers were ala James Dean - Marlon Brando biker types and the Surfers were the blond tanned Beach Boy types. I am sure that this probably varied by area as fads changed across the country.