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Ghetto Peanut Butter 

Street for crack or purified cocaine
oh, hombre! You got that ghetto peanut butter?

Yeeaaaahhh brah. You come back here around 4 o clock ill have it up, boyo.

ghetto butterfly 

A girl from 'the ghetto' who always looks great, has a smart mouth, and ALWAYS gets what she wants

Ghettobutter

Any type of peanut-butter that is not name-brand, or is received from the food bank.
Girl: Is that Ghettobutter?
Boy: Yeah, my mom got it from the food bank.
Ghettobutter by midnightinspirations September 1, 2010