Top definition
A hat in the shape of a peanut or something that makes you win a laughing contest.
Boy 1: Yo nice peanut hat!
Boy 2: Thanks!

or

(Laughing Contest)

Boy 1: I like pretzel shoes.
Boy 2: Peanut Hat?

Boy 1: HAHAHAAHHAHAHHA LMAO!
Boy 2: I win :)
by EggSauce November 10, 2010
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