Meaning of the word peter in English

What does peter mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

peter

US /ˈpiː.t̬ɚ/
UK /ˈpiː.tə/

Verb

to diminish gradually to a halt; dwindle to nothing

Example:
The stream began to peter out as it approached the desert.
Their enthusiasm began to peter out after several failed attempts.