Peru ended their 2015 Copa America campaign on a high, overcoming Paraguay 2-0 in the third-place match in Concepcion on Friday.
Andre Carrillo and Paolo Guerrero were the heroes for Peru, who also finished third four years ago, with their second-half goals proving the difference at Estadio Municipal Alcaldesa Ester Roa Rebolledo.
After their semi-final exit to hosts Chile and dour opening half, Carrillo volleyed beyond Justo Villar in the 48th minute.
And Guerrero netted late on as Peru claimed consecutive third-place finishes at the premier South American tournament.
There were changes to both teams, with Peru pair Christian Ramos and Yordy Reyna starting in place of Jefferson Farfan, who did not pass a late fitness test, and Carlos Zambrano (suspended) after the 2-1 defeat to Chile.
Paraguay counted the cost of their 6-1 drubbing at the hands of Argentina, with Derlis Gonzalez (thigh), Roque Santa Cruz (hamstring), Bruno Valdez (thigh), Nelson Valdez (thigh), Edgar Benitez, Richard Ortiz and Ivan Piris dropping out for Lucas Barrios, Raul Bobadilla, Oscar Romero, Osvaldo Martinez, Nestor Ortigoza, Miguel Samudio and Marcos Caceres.
Chances were at a premium in the first half, with both teams failing to create anything clear-cut during the opening 45 minutes.
Reyna and Romero were limited to long-range efforts for Peru and Paraguay respectively as the half ended all-square.
The match came to life in the 48th minute, when Carrillo volleyed past Paraguay goalkeeper Villar from outside the area.
A corner kick deflected up in the air and Carrillo got his outstretched boot to the ball, leaving Villar with no chance.
It was the Sporting Lisbon forward's first international goal since August 2012.
Peru had Carlos Ascues to thank after the hour-mark, with his last-ditch challenge enough to deny Edgar Benitez and Paraguay an equaliser.
Benitez was picked out by Romero at the back post with the goal at his mercy in the 66th minute, but Ascues was on hand to deny the Paraguay striker a clear goalscoring opportunity as the ball hit the bottom of the post and rolled away to safety.
Victory was sealed for Peru in the 89th minute as Guerrero side-footed through Villar's legs after a cross from Joel Sanchez.
