He was captured by the Greek hero Bellerophon near the fountain Peirene with the help of Athena and Poseidon. Pegasus allows the hero to ride him to defeat a monster, the Chimera, before realizing many other exploits. His rider, however, falls off his back trying to reach Mount Olympus. Zeus transformed him into the constellation Pegasus and placed him up in the sky.
In modern times, Pegasus has been popularised in many forms of media, many of which feature numerous winged horses referred to as pegasus (plural: pegasi).