The Peabody resembles a fast Foxtrot. Legend has it that the Peabody was created by a portly police or fire chief - Captain Peabody - who was so overweight that he had to dance to the side of his partner, creating the style which is so characteristic of the Peabody.
It's primarily a dance with long, gliding steps. Dancers use many intricate quick steps set against a figure called the "open box". It is popular in the larger ballrooms where dance space is not a serious problem.
More History of Dance