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2.
When your girlfriend is hungry but you want a blowjob.

You mash a banana in a jar of peanut butter, proceed to stir it around with your penis.

You then use your penis to spread it across her face like a butter knife. This should satisfy both your needs at once.
Kaley: I'm hungry ...
Jacob: I want a blowjob. Give me that jar of peanut butter and a banana.
Kaley: What?
Jacob: You're getting the Elvis Presley, Beeoch, I hope you don't have a peanut allergy.
by Nothern Ginger Attack Monkey April 11, 2009
 
1.
Named after the cultural icon, Elvis Presley, who was known to frequently eat peanut butter and banana sandwiches, "The Elvis Presley" takes place when a male lubricates a female's vagina or anus with peanut butter and then proceeds to penetrate her with a banana. This term was formed after an off-campus incident at Rowan University in Glassboro, New Jersey.
"YO MAN, I GAVE THAT BITCH THE ELVIS PRESLEY LAST NIGHT... NOW SHE HAS SALMONELLA!!"
by MrCreampuff February 15, 2009