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Stands for personal bowl and joint. It's used to disguise one's activities when they are trying to get high fast.

It's less commonly used for: personal bong and joint or personal blunt and joint.
mom: "Honey, what are you doing in there?"
son: "Oh, nothing, just enjoying a PB&J."
PB&J by sideso March 15, 2009
Related Words
PB PB & J PBS PBJ PBR PBP PBM PBF pbb PBC
PB&Face, 1. n. having peanut butter on your face, usually through forceful application. -ed, adj. -ing, v. -r, n.

2. n. a lewd sex act in which one individual positions his/her face directly under another individual's hindquarters resulting in a "PB&Face."
"Dude, let's go PB&Face that guy."
"She was just asking for a PB&Facing."
"I got PB&Faced at that party last night."
PB&Face by RusskyJacob December 13, 2008

PB and Shaft 

During intercourse a man will lather his dick (aka shaft) and balls in peanut butter and jelly. Once the man has successfully coated his dick and balls in the famous pair he will then put the whole package between two nice fluffy pieces of white bread and let the girl eat it all off. Voila, you have a PB and Shaft.
Dude I was having sex with my girlfriend last night and we decided to get a little bit frisky, so she let me try out the old PB and Shaft trick. I've never seen here eat so vigorously.

PB and J 

"Go make some PB and J."
PB and J by z0mbi3X2k September 23, 2005
An acronym for Pack a Bowl and Jam. Most often used by musicians before a jam session.
Yo! Let's PB&J!
PB&J by puttamaikaqinurmauth April 25, 2011
The act of taking a jar of peanut butter and spreading it on your scrotum and getting your dogs to lick it off.
When Logan gets lonely at night he goes in his room and has a nice PB & D.
PB & D by anonymous June 27, 2004