Arpegios are tone groupings. Just like chords, but played like scales. Almost all chords, both major and minor, can be played as arpegios.
As an example, play these notes in this order, up then back down.
(seventh fret -A string to start)the first notes are E,F#,G (change to D string9th fret)B,(change to G string9th fret)E,(change to B string7th fret)F#,G, A- Than back down.* note - all three note groupings such as, E,F#,G(on the A string) and the F#,G,and A(on the b string) are to be played on that same string. That is a classic example of an arpegio. Start slow and build speed to really ripe it up and down. If you noticed all the notes are tones of an E chord. Break down other chords to make them arpegios too. Remember, an arpegio is nothing more than a chord played like a scale.
Peace! :D