Peat itself is this kind of degraded sphagnum moss (and various other plants material). Usually, sphagnum is also added in shredded form to aid aeration (which doesn't work well when it's chopped up in organic mixtures).
But I think it would be good if somebody would finally set the record straight about the nomenclature. I mean, the peat is formed by the sphagnum, it basically is sphagnum. But it's peat. And moss. Well, the top layer is sphagnum, but the lower layers are peat, whereas the entire bog is called a peat bog. Even though the largest living part of it, is sphagnum.
But a Duck pond isn't made out of ducks like a peat bog is made out of peat.. Can we call the ducks, pond ducks? Or are they more like the live top layer? Sphagducks. But that would make the pond just be a shitpond (degraded duck particles).
Be cautious, I've been hearing that those sphagnum fungi could affect the brain.