Tent pegging is an ancient cavalry sport.
The term Tent pegging is certainly related to the idea that cavaliers attacking an enemy Camp on their horses, using their spears or swords to uproot tent pegs causing tents collapsed.
The specific sport of tent Pegging is simply having a mounted equestrian riding at gallop using a sword or lance to pick up and carry away a small ground target and that event called individual run whether sword or lance. 
The ground target is a symbolic tent peg.

There are many Events of Tent Pegging, 

• Individual run (Sword/Lance)

• Half section (Sword/Lance)

• Full section (Sword/lance)

• Indian file (Sword/Lance)

• Lemons (sword)

• Rings (Lance).