I want to get some new pegs
Several companies offer replacement pegs for your sport motorcycle. Performance pegs will be very different in appearance and materials than OEM pegs. ProTek, Gilles Tooling, Competition Werkes, Superpole, Emgo and Vortex all make one of two basic styles of performance enhancing footpegs: round and slash cut. While similar in function (both strive to increase grip on your boot, and increase lean angle by removing unnecessary material), they are still different and will feel different to you, the rider.
We definitely do not recommend slash cut pegs. They're unsafe.
Round pegs are machined from a piece of round billet aluminum. They are generally a little shorter (1/2" per peg, approximately) and hence are less likely to scrape during extreme lean angle. The surface is a knurled finish, uniform all around the peg, and, like the slash cut pegs, can be found in a variety of colors.
Slash cut pegs are also machined from billet aluminum, but are designed differently. Slash cut pegs have one surface that is obviously designed to contact your boots. In a word, they look more like "normal" pegs than the round ones do. There are differences, though. Slash cut pegs are tapered towards the outer edge of the peg, with the "bottom" of the peg angling up towards the outside of the peg. This is to provide greater lean angle before the pegs start scraping. They are also, like the round pegs, shorter in overall length, to additionally increase ground clearance.
Instead of a knurled contact surface like round pegs, slash cut pegs have a machined "grid pattern" cut into the top surface of the peg, leaving an aggressive, sharp edge for maximum peg/boot grip. This offers even more grip than the round cut pegs, but that extra grip also means it is a little more difficult to slide your foot on the peg. Actually, it is next to impossible, requiring you to almost completely lift your foot off the peg to move it.
One more thing about slash cut pegs: they aren't as safe as the round ones. The slashed surface is sharp enough to cut you, or a fellow rider, even through leathers or boots. The round ones look just as cool, and are a lot safer.
Something else to think about: The rubber on OEM-style pegs does a lot to keep vibration from reaching your feet. The fun-looking aluminum ones may not be as comfortable as the stockers. Also, the stock pegs, with the feelers in place, will give you a warning when you're about to run out of lean.
Changing pegs is easy. Remove the clip holding the pin that holds your pegs in place, then slide the pin out. The spring may want to go flying, so make sure you track it down. Put the spring in the new peg in the same way that it was in the old peg, slide the peg into the footpeg bracket, and slide the pin through the holes to hold it. Re-attach the clip (on some models it may be a cotter pin) to secure it. Repeat on the other side.
If you want to go whole hog, you can get Woodcraft rearsets, which will move the pegs up and back, for that racer look and feel (for better or worse).