My assumption is a strap/cord?
yeah... my guess would be a hole to enable hanging it on the wall with something, maybe a leather cord.
The strange thing is the lack of wear marks.
Lots of things may not get used for their intended purpose. Seems to me I recall seeing some of these with a pair of tiny holes side by side at the top of the peg head, which would reinforce the thought of a strap, or cord.
You need my advice like you need a hole in the head.
LOL. Thanks. Love those little guitars!
why not show us the(w)hole thing ...what's so romantic about the back of head ? Teaser....nice pegs tho'!
Tim, scroll down on this page to see two nice photo galleries. Cheers. Tom.