look up any word, like thot:
 
1.
The act of missing all of your classes schedule for the day. The

wittiness of the phrase comes from the fact that you skipped all of your classes, hence the brand of peanut butter, "Skippy".
Whoa dude Chettle, I bunged up today, I peanut buttered my classes....skippy
by Henrik Chettleburg October 24, 2011