The Rice University Neologisms Database

Persons with which one has a close fraternal or familial relationship. The term seems to convey a meaning of a close circle of friends with which a person associates himself or herself. Possible reason used: To refer to friends in an informal manner. Used primarily by youths and people under 25 years of age. In most contexts it seems to be a common slang term used by African Americans or poor socioeconomic groups. The term PEEPS is used mean a group of your closest, tightest group of friends, and would not be used to refer to others outside this tight knit group. PEEPS is derived from the word people.