Full Idea
Identity is sometimes read so that 'Pegasus is Pegasus' expresses a truth, the non-existence of any winged horse notwithstanding.
Clarification
Pegasus is a mythical winged horse
Gist of Idea
The identity of Pegasus with Pegasus may be true, despite the non-existence
Source
B Hale / C Wright (The Metaontology of Abstraction [2009], §5)
Book Reference
'Metametaphysics', ed/tr. Chalmers/Manley/Wasserman [OUP 2009], p.187
A Reaction
This would give you ontological commitment to truth, without commitment to existence. It undercuts the use of identity statements as the basis of existence claims, which was Frege's strategy.