Helen! I haven't seen a peplum for years !! A peplum is just as you describe ...a short flouce on a jacket, in same marterial as jacket, usually starting at the waist and hanging over the skirt to about mid-hip.
Some are short and sorta' flirty, others can be long and rather elegant as in an overskirt on an evening gown which hangs to nearly the hem of underskirt.
It's a great hip-disguiser in the right length. One of my favorite suits (YEARS ago) was a peplumed, wool worsted suit. It has the advantage of being a tailored suit with a distinctly feminine touch.
About time some designer brought it back!
Good for you Helen to remember that connection.