The first one you see in the original photos had a problem with the peg holding due to taper. I received my peg shaver and taper reamer today and made 2 new pegs. The first broke due to a flaw in the grain and trying to make it to small. This one that works and holds good uses a small shoe string requiring a smaller hole in the peg which makes it stronger. I like the size, look, and feel of this one and plan to make a couple more. The white dot on top is Oregon Elk horn tip I found in the forest 35 years ago. The smaller cord doesn't seem to dent the neck and certainly works better. The shoe string cord is easily replaceable without taking the cejilla apart.
It looks better on the guitar in my opinion.