Peng gained popularity as a singer from her regular appearances on the annual CCTV New Year's Gala, a widely viewed Chinese television program that airs during the Chinese New Year. She won honors in singing competitions nationwide. Her most famous singles include《父老乡亲》("People from Our Village"),《珠穆朗玛》("Zhumulangma"), and《在希望的田野上》("In the Field of Hope"). Peng also sang the theme songs of several popular TV series, such as The Water Margin (1998). She also starred in musical productions. In 1986, she received the Plum Blossom Award, China's highest theatrical award, for her lead role in The White Haired Girl. She was the president of then People's Liberation Army Academy of Art between 2012 and 2017, and vice president of the All-China Youth Federation between 2005 and 2010. Peng was a civilian member of the People's Liberation Army and held the civilian rank equivalent to Major General before she was appointed the Art Academy's dean, upon which she was given the formal rank.
