This is the 239th most frequent Danish word.
peter
The Danish word "peter" is a male given name, equivalent to "Peter" in English.
Here 'Peter' is used as a proper noun, referring to a person's name.
Peter går i skole hver dag.
Peter goes to school every day.
In this sentence, 'peter' is used as a verb, meaning 'to peter out' or to diminish, and is derived from a figurative use.
De har besluttet at peter sagen.
They have decided to drop the case.
The word 'Peter' here is part of a proper noun phrase 'Peter Plys,' which is the Danish name for Winnie the Pooh.