This sheltered waterway is Peggy’s Cove. There are two theories of how the inlet and village were named. The historic version credits French explorer Samuel de Champlain, the Father of New France. During one of his voyages in the early 17th century, he christened the outlying bay Saint Margaret’s after his mother Marguerite. Of course, Peggy is a nickname for Margaret. A legend has a different explanation. In the late 18th century, a young girl was the only survivor of a shipwreck on Halibut Rock. Too young to know her name, her new family called her Peggy. As her tragic situation became famous locally, people began referring to her as Peggy of the cove.