Junio C Hamano [off-list ref] writes:

quoted

+OUTPUT
+------
+
+The output is in the format:
+
+------------
+<oid> TAB <ref> LF
+------------
+
+When `<ref>` is a tag, it may be followed by `^{}` to show its peeled
+representation.

While I can guess what the above wants to say, the above does not
quite "click" for me for some reason.  Here is my attempt.

    When showing an annotated tag, unless `--refs` is given, two
    such lines are shown, one with the refname for the tag itself as
    <ref>, and another with <ref> followed by `^{}`.  The `<oid>` on
    the latter line shows the name of the object the tag points at.

This is clear to me, too (even reading it late at night -- kudos), so
I've adopted your suggestion verbatim with a few minor formatting nits.
Thanks!

The verb `peel` is used in the explanation for the `--refs` option,
but there is no formal definition of what it means in the glossary.

We may want to do something about it, but we probably would want to
leave it outside the scope of this series.

I'll add a tracking task for myself to potentially address this in the
coming week or two, but I'll be happily surprised if someone else beats
me to it :-) I agree it's out of scope for this series.

--
Sean Allred