(Description is a summary from multiple sources and my own observation)
(This is my headcanon, not all information is considered canon to the Star Trek timeline)
The Peregrine Attack Fighter (also known as just the Federation attack fighter in canon sources) was originally designed to be a courier ship for the United Federation of Planets. It possesses good speed and it's small frame makes it very maneuverable, especially in a universe dominated by large starships.
However, as tensions escalated between the Cardassian Union and the people of Bajor, whom were formerly occupied by the Cardassians, an insurgent group known as the Maquis adapted this ship for use as an attack craft, in order to strike at Cardassian ships in their territory, military or not.
Durring the heat of the Dominion War, the Federation decided to officially use the Peregrine fighter for use against the Dominion, where it saw extensive use, especially against the Dominion Fighters (I'm not sure it's real name), which had a similar role and characteristics.
On into the 25th century, the aging Peregrine was still in use as an attack craft, however it was slowly being replaced with the Stalker Stealth fighter and smaller Escorts which filled many of the roles of a fighter.

I have to say, this was a fun build. I decided to build this after watching a ton of Star Trek The Next Generation, in which I think this ship makes only a single appearance.
I had to do a lot of drag reduction to actually make it fly, and it does so very well, but be advised, it bleeds speed very quickly in sharp turns.
Although some sources say this ship can equip micro torpedo launchers, I never actually saw it in action in the shows so...
It comes armed with two phaser cannons, which fire in pairs.
While there's nothing gimmicky on this ship, it's got all kinds of details, mainly the nacelles.

Have fun!