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Stands for "Peanut Butter Jelly Time." Often someone will mention this when a banana is in the act of being eaten.
When Jim pulled walked out of the store with a cart full of bananas, all pbjt broke loose.
pbjt by Meggido February 28, 2008
Related Words

Peanut Butter Jelly Time ('PBJT') 

- Noun
- A point in time when a feeling of relief, excitement overcomes a person.
After filing the 3rd Qtr 10-Q for Petrohawk, which entailed 2 wks of working 70+ hrs a week, the Petrohawk engagement team got up and screamed, "It's Peanut Butter Jelly Time ('PBJT')!"