The Name Peng in Japanese/Chinese on a Custom-Made Wall Scroll.

This is the Chinese surname Peng.

In Japanese, this can be the given name, Mitsuru.

In Korean, this is the surname usually romanized as Paeng.

鵬程萬里 is an ancient Chinese proverb used in modern times to wish someone a long and successful career.

It's really about the 10,000 Flight of the Peng (Peng, also known as Roc is a mythical fish that can turn into a bird and take flight).

莊子
Zhuangzi or Chuang Tzu

Breaking down each character:
1. Peng or Roc (a kind of bird).
2. Journey (in this case, a flight).
3. 10,000 (Ten Thousand).
4. Li is a unit of distance often referred to as a “Chinese Mile,” though the real distance is about half a kilometer.

Direct Translation: “Peng's Journey [of] 10,000 Li.”
Literal meaning: “The 10,000-Li Flying Range Of The Roc.”
Perceived meaning: “To have a bright future” or “To go far.”

This proverb/idiom comes from the book of Zhuangzi or Chuang Tzu. It tells the tale of a huge fish that could turn into a gigantic bird. This bird was called a “peng” and was many miles long. This legendary size allowed the Peng to fly from the Northern Sea to the Southern Sea in a single bound.

Wishing someone “a Peng's Journey of 10,000 Li” will imply that they can travel far without stopping and will have great success, a long career, and a prosperous future.

朋 is a simple way to say friend, companion, comrade, or pal in Chinese, Japanese Kanji, or old Korean Hanja.

朋 is a very short form, so a longer two-character word for friendship might be better.

Note: In Japanese, this can also be the female given name, Yukari.

Peng, Lu, Ji, An, Cai, Lie, Zhou, and Kao are the eight fundamentals or forces of Tai Chi Chuan or Taiqiquan.

棚 (Peng) refers to the outward (or upward) expansion of energy.
履 (Lu) is often referred to as “rollback.” Lu is the ability to absorb, yield/deflect incoming force.
擠 (Ji) is often thought of as a “forward press.” However, it is also best described as a “squeezing out of space.”
按 (An) is a downward movement of energy, best translated as “(relaxed) sinking.”
採 (Cai or Tsai) translated as “downward pluck.” Cai is a combination of Lu and An.
列 (Lie or Lieh) is “Split” and is a combination of Peng and Ji.
肘 (Zhou) Elbowing.
靠 (Kao) Shouldering (for when the arms are bound/distance is too close to punch).

Source: https://combativecorner.wordpress.com/2015/12/03/the-8-energies-and-5-movements-of-taijiquan/