An multi-piece foot peg for use with power sport vehicles such as motorcycles and ATVs is provided that, in one embodiment, includes a base that attaches to the frame of the vehicle and a cleat member that attaches to the base wherein the cleat member may be replaced without replacing the entire foot peg thereby enabling economical replacement of worn cleats and enabling the adjustment of foot peg height and aggressiveness of the cleats. The base is configured to define an opening between two sub-components that extend away from the frame of the vehicle. The cleat member includes cleats and at least one opening between the cleats positioned to facilitate the passage of debris through the opening in the cleat member and through the opening in the base such that debris will not build up on the upper surface of the cleat member.