So, to start, here's what your pegs should look like
And here's one of the new pegs.
Now, there's a pin that goes through the peg and a washer on the end, that is riveted. So drill out the end of the rivet, or if you can shave it off or cut it off, etc. Any way to get the end washer off.
Now once you get that off, you can use a punch or some other way of forcing the pin out. Here's a picture of all the original pieces you'll take off.
The only thing you will re-use is the spring and bushing, and trust me, its a pain in the bitch tits to get back together! It goes back together exactly the way it came apart. Spring and bushing go in the bracket, and the new bolt goes through (you hope, and seriously good luck, it takes a lot of fiddling) and then the nut goes on the other end. When you're all done, it should look something like this.
As I said before, its really a straight forward and "easy" installation. Most people probably won't need help getting them on, but its just nice to have some pictures to look at, and some basic instructions so you know what you're getting yourself into. Anyways, I hope this helps, and good luck! Nerd
UPDATE:
After seeing how new and shiny my front pegs are vs. the back ones, I decided to get a pair of matching rear pegs. I only took one picture to show all the parts, there's more parts for the back pegs but these were SO much easier to do. Start to finish I think it took 10-15 minutes to get both on.
So looking at the picture here's what you need to do. There's one large pin or rivet (whatever you wanna call it) that goes through the peg itself, on the other end is a cotter pin that needs to be straightened and pulled out. After that take the large pin out of the peg and take the peg out of its mount point, be careful as there are some small pieces that will fall out if you don't hold the whole thing together.
Now get your new peg, sorry no pics (its the same style as the front pegs, but made for the back) put the spring in the hole, and the ball bearing on the end of the spring. Put the plate over that, and the bushing through the center. Put the peg in place, put the large pin through, put the cotter pin back in and you're done! How freakin easy is that? I wish the front ones were that easy to put on. Can't wait to get the bike back together and try these pegs out
i plan on getting a couple replacement pins before taking on any passengers. i just wanted to get everything back together so i don't have even MORE parts spread all over the place 
good writeup, that's exactly what I had done..
