A peony is not a shrub; it's a perennial. Just plant the part you pulled out in the ground. Don't bury the eye deeper than 1 inch. Choose a sunny spot and give it a year or two to bloom.

I would definitely plant those! Both pieces have roots. You can never be sure, but those look very promising.

Wiki: "Peonies can be classified by both plant growth habit and flower type. Plant growth types are Herbaceous (nonwoody), Tree (shrub), and Itoh (or "Intersectional"), which is intermediate between herbaceous and tree forms. In winter herbaceous peonies die back to their underground parts, whereas tree peonies lose their leaves but retain viable woody stems above ground. The Itoh hybrids are intermediate between herbaceous and tree forms."

Thank you both for your replies. I'll plant it right away and hopefully get a good plant out of it. Do you suggest planting in a pot or straight into the ground?

Was this a tree peony? There appears to be both woody stems and herbaceous buds (the pink bits). Tree peonies are often grafted onto herbaceous roots. The tree peony needs to be planted deeply to allow the 'tree' portion to form its own roots. Planted shallowly, the herbaceous rootstock will send up its own shoots and the woody portion may be weakened over time. It looks to me like that you are dealing with that sort of situation. So, I would replant it in the ground but, if this was a tree peony, consider planting it deeper if you want to keep the tree peony strong. If it is not a tree peony, then you shouldn't bury the 'eyes' too deep.

I have no idea what kind of peony it is. They were here when I moved in. I can tell you that the stalks come up in the spring and dry up in the fall/winter. I have a pink one and a white one. Aren't I full of useful information?

Not a tree peony, then.

I would pot it up, but *you* are in zone 7, so no need to wait to replant it. I hope you just planted both pieces on opposite sides of a hole less than six inches deep. In a year or two you should have another blooming peony. Is it a dark pink or a light pink? A popular dark pink around here is Kansas, light pink is Sara Bernhardt but I have no idea where you are.

Thanks! It's just one piece, I took pictures of two angles. I don't know what color it is.. I think this one is the dark pink. I planted it the other day and already I see growth, I'm so excited! :D I might plant it in a perm. spot later on, but I'm assessing sunlight and trying to plan out my garden.