1. When intercourse is being performed in a sandy location, the male will pull his penis out of the vagina, slide it in the sand, and re-insert it into the vagina. Thus giving the woman a Peanut Stick.
2. A delicious confection treat dipped in peanuts. ex. Donut
Bob: Man, I really gave her the old peanut stick last night.
Steve: Ooooh that must have hurt!!!
Bob: Not me, that's why I wear a condom. ;-)