1. Punchline phrase to the children's song and/or finger play that goes:

A peanut sat on a railroad track,
His heart was all a-flutter.
Round the bend came Number 10,
Toot! Toot! Peanut Buttter!

2. Synonomous with "His ass got hammered!".
Football Announcer: Here's the handoff and OOOOH!!! WHAT A HIT!! That's GOTTA hurt!
Viewer at Home: DAYEM! Check out da replay yo! Urlacher's like toot toot peanut butter. That's how we hit in Chicago son.
by JRPinCT May 2, 2007
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To violently shake one's ass to the point of either defacation or flatulence, popular amongst young hip urban dwellers.
Girl, break me off a lil sumthin and go awhead and toot toot dat ass for a brutha fo rizzle.
by Ass Tooter April 29, 2003
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when a teenager is in the immature stage of adolesence. he sees a girl also known as a hotty talent lass and abit fanny, walking on the otherside of the road as he drives by in his car. as an alpha male he sends out a call of 'toot toot tits oot' this is helped by the sound of his horn. hey hey hey i said sound not size :P:P!! the response the young gentleman would like is for the girl to flash her babs at him :). unfortunatly this is britain and the reality of the response is a raised middle finger gesture. emphasised by her voice which would reply something like FUCK OFF or KNOB OFF
lad in car shouts toot toot tits oot. girl replys fuck you
by !@#$%Tomass%$#@! July 2, 2006
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An interjection used to request the forgiveness of another whom you have or soon will inconvenience. (a.k.a. Excuse Me, Pardon Me)
Sally said, "Toot toot Peanut Butter" requesting Sue to step asside as she passed through the narrow hallway.
by BS August 11, 2004
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The ultimate comeback during periods of stress when you have no idea what to do. It'll cancel any argument that the opposing side has, no matter the cost. Cannot be used against or with "Poo poo pee pee dinkle toilet mustard head".
Person 1: These statistics show that everything you say is invalid.
Person 2: toot toot you Thomas the Train blue 1000 ping morsel of a scuttlebug!
Person 1: Crap
by WHÉÈÊË March 2, 2021
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