Most likely Peggy was just born. She is tiny and cute, just about half a mile in diameter. Mom and dad, the rings of Saturn, are very excited since it was millions of years ago their last child left home.
What will happen with Peggy is not really known, but the researchers in the Cassini project are working around the clock right now collecting data on this moon birth.
Nothing like this has been seen before and sheds new light on how moons are born and also helps us understand how the planets where formed in the solar system.