Legend of the Hare, Page 52 (Patreon)

Hey, they're magical girls! 

Peggy's transformation sequence is, of course, a reference to Sailor Moon, and her transformation phrase is generic mahou-y argle-bargle, or possibly a reference to Power Rangers Turbo. I think just argle-bargle. We'll have to wait until next week to see what Peggy's magical girl form looks like.