Actually, my understanding is that the p in preg actually stands for perl. php.net refers to PCRE (Perl Compatible Regular Expressions).
If you like you can add the “compatible” though, which would conveniently add to the length.
NAME
perl − Practical Extraction and Report Language
...But I guess the php docs themselves have caused people to think that the p stands for 'perform' - from the php docs 'preg_match - Perform a regular expression match.'. So yeah.