It consisted of two sections. The first section was angled upward and has pegs that were placed alternately (the Monkey Bar section). The second section was a downward-angled pegboard with holes in it (the Pegboard section), and a peg in each of the first two holes.
After competitors traversed the first section, they must make a transition to the two loose pegs on the second section. Once there, they must move the two pegs from hole to hole, to reach the landing platform. On American Ninja Warrior 5, competitors must reach a small platform similar to the one used in the Circle Cross, and then the landing platform.
The second version of the Monkey Peg (called Monkey Pegs) appeared as the fourth obstacle on American Ninja Warrior 7 in San Pedro (Military).
However, unlike on the original Monkey Peg, this version was entirely made with the arch-shaped pegboard. There were a total of twelve pegs, with ten stationary pegs that competitors must traverse in a similar fashion to the Monkey Bar section of the Monkey Peg, and two removable pegs that competitors must move from hole to hole in a similar fashion to the Pegboard section of the Monkey Peg.
A modified version of this obstacle (called Swinging Peg Board) would later appear as the eighth obstacle on American Ninja Warrior 9 during Los Angeles finals and Celebrity Ninja Warrior: Red Nose Day (shown during Stephen Amell's run).
On SASUKE Ninja Warrior Indonesia, the Monkey Peg appeared as the third obstacle during Semifinal Stage 1, which was very similar to the one used on American Ninja Warrior 5 and American Ninja Warrior 6, except the Monkey Bar section was placed straight (rather than at upward incline), as well as the Pegboard section (rather than at downward incline).
Then, on SASUKE Ninja Warrior Indonesia 2017, the Monkey Peg appeared as the third obstacle during Semifinal Stage 2, which was very similar to American Ninja Warrior 7's Monkey Pegs, except the pegboard was made taller and there were ten pegs instead of twelve (eight stationary pegs and two removable pegs).
However, during SASUKE Ninja Warrior Indonesia: International Competition, the stationary pegs were removed, leaving with just two removable pegs at the start of the obstacle. Also, some of the holes at the bottom part of the pegboard had been covered, which made it harder for the competitors to traverse the obstacle. As the result, the obstacle needed more time to complete than during the regular season, resulting the time limit was raised from 300 seconds to 360 seconds for this tournament.