Abstract: A peg and stake driver and extractor comprising a first elongate tubular member having a pair of wall projections secured thereto and a reciprocating tubular member positioned concentrically around the first member between these wall projections and having its own pair of opposing striking surfaces to forcibly contact these wall projections. The lower end of this first member includes a first longitudinal slot in the wall thereof joined to a second longitudinal slot of substantially greater width and defining opposing horizontal contact surfaces in the wall thereof. This slotted end of the first member is interlockable with the upper end of a V-shaped angle iron stake member having portions of its walls cut away to provide for the interlocking connection.