The crossword solution for the term 'IDENTIFIES, SLANGILY' is 'PEGS'. This is a slang term used to describe someone who is able to recognize or identify something. It is often used in the context of recognizing people or objects, such as being able to pick out a person in a crowd or recognizing a particular item. The term is derived from the phrase 'to peg someone, ' which means to recognize or identify them.