The act of taking peanut butter (creamy or chunky), warming it in a bowl, then spreading it on a man's dick. Then, after the peanut butter is applied, cannon fucking a woman's (or man's depending on your preference) asshole until orgasm. Then, as the final move, felching the peanut butter cum mix out of said ass.
When asked if you want to go butterscotching, there is a certain response, please look at the example for said response.
Hey, wanna go butterscotching later?
Sure, chunky or creamy?