so crossdressing and pegging go very well together for me...and I cross dress as well, when asked

It is much more a mental turn on for me than anything, the fact that a gent willingly (or maybe not so willingly ) gives me access to his deepest physical and emotional fear is a pretty big brain turn on.

K

...first and foremost, it appeals to my love of gender play and gender fluidity. There's part of me that is very masculine, and that masculinity likes to be used with other men who may enjoy more receptive or "feminine" activities.  

My clients who enjoy pegging REALLY enjoy it. I love being able to give pleasure like that. It turns me on.  

Power exchange is also a big part of why I enjoy pegging, too. I'm in charge. I'm pleasing, but also have a show being put on for me. Seeing my client try to please a fake cock is endlessly entertaining, and seeing the pleasure he gets from the attempted pleasing turns me on. It stimulates a sensually sadistic part of me that few other activities stimulate.

Obviously, I'm a guy, and guys should rarely try to guess at what is a turn-on for women.  However, if you'll take it with a grain of salt, I'll put this forward...

For some it might be the gender bending thing, or the sub-dom dynamic, but, for many, pegging isn't about the power play.  It's simply about physical sensations.  So, pegging someone might carry the same thrill as giving going down on your partner.  Nothing gets me hotter than going down on a girl who really enjoys it.  Technically, the mouth isn't a sexual organ.  If it was, we'd get aroused every time we ate.  But, when I go down on a woman the more she enjoys it, the harder I get.  So, I would suggest that, in the same way, women could get aroused by pegging someone who enjoys it

As the other ladies have mentioned it has quite a bit do do with my love of gender bending and playing with traditional gender roles. I also love the power exchange it brings. I love the pleasure it brings to my partners, the sensuality. The way it feels to be connected to another person that way. The act of topping a male or female physically with my rubber cock is in itself something that gives me an endorphin rush. I can see another side of my clients during pegging and I'm always initiating it as a way to increase their own enjoyment of our play time through a new form of stimulation and discovery. It really has given me a wonderfully fun and dynamic way that I'm able to fully embrace and enjoy the alpha female within me and my darker prurient interests.  

Grace