Peanut Butter Jelly Time originated with a flash animation that showed a Banana dancing wildy about the screen rapping the following lyrics: "Peanut Butter Jelly Time Peanut Butter Jelly Time(repeats several times), Peanut Butter Jelly with a baseball bat, Peanut Butter Jelly with a baseball bat."
Use it in moments of extreme silliness, Like when class starts or something.
by JokerDoom March 22, 2004
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A song written by rapper MC Chris that was later turned into a flash animation featuring the dancing n00b banana. family Guy once did a spoof on it, which is where most people think it originated from.
peanut butter jelly time is a song
by skimsauce September 13, 2006
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it's the dancing banana. It is something you say to another person when they are feeling a bit down. You try to cheer them up by saying this and you do a little dance.
search 'peanut butter jelly time'
by Diana BoBana FeeFiFoFana December 3, 2007
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A Orginaly song by Buckwheat Boyz.
Then the Song was remixed. And also used for that bannanna flash video, which in turn make everyone laugh on the net.

Baseball bat is a guys dick
Peanut butter is in the ass (shit)
Jelly time - KY jelly time
Doing a girl in the ass with KY jelly and a big shlong (dick).

"hey girl, u a freak, Imma bout 2 do it peanutbutter and jelly time with a baseball bat"

"As I was pounding this girl from doggie style... The all of a sudden I said IT'S PEANUT BUTTER JELLY TIME. And jammed my dick in her ASS!"
by Bluk9t December 1, 2005
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Sex between 2 Latinos. peanut butter referring to the color of his penis and jelly to how wet the Latina female gets. Obviosly the baseball bat is his penis.
Baby I think its peanut butter jelly time.
by pb&j lover April 16, 2010
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having sex and adding peanut butter to the penis and jelly to the vagina and having a "good time"
Dude i love the song peanut butter jelly time cause it reminds me of last night.
by j money444 October 24, 2010
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