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Peanut Butter Jelly Time 

To have a Peanut Buter Jelly Time is to share a tasteful and wonderful experience with your lover. To have a Peanut Butter Jelly Time, do the folling; 1) Pick weather you want to by peanut butter or jelly. 2) Take the item that you chose to be, and spread it on your whole body, and have your lover do the same with their item (or spread them on each other). Very sexy! 3) Have sex in a position that involves you to face your lover(example: 69). This will give the effect of it to look like a peanut butter sandwich. 4) Have fun! Lick off yourself or your lover, if desired. It can be very sticky, so enjoy!
"Oh ya, baby, I love what you are doing, but can we please have a Peanut Butter jelly Time?"

"Last night I was with my man, and we had an exultant Peanut Butter Jelly Time! And, this time, I was the peanut butter! Yum."
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Peanut Butter Jelly Time 

Joking that you want to have a threesome / Menage a trois / Sandwich. Especially as a female with 2 guys. One guy's dick in your butt (peanut butter) and the other guy's dick in your vage (jelly). DP
"I want a sandwich, if you know what I mean" *Sing "It's Peanut Butter Jelly Time!" & dance*

Peanut Butter Jelly Time 

When a woman spreads peanut butter and jelly on her genitalia, then is eaten out.
"Peanut Butter Jelly time! Jennie!!" *sluurp* *smack* *sluurp*

peanut butter jelly time 

the title of a song, sung my a dancing bananna, this song involves strong lyricas and rude/sexual conteint.
when that little kid saw the bananna man dance, and cussing, he was scared for life

peanut butter jelly time 

A creepy ass gif of a banana dancing back and forth constantly to mildly weird you out
" Like OMG that guy is such a peanut butter jelly time"

Peanut butter jelly time 

The act of spreading Jelly and peanut butter in between man or womans legs and licking it off
As the fat with kid with glasses licked it off of his Mom he said peanut butter jelly time

Peanut BUTTer Jelly Time 

When you lube up your asshole with peanut butter (chunky if preferred) and a dick or dildo with unspecified jam or jelly and fuck the asshole and then suck mixture the dick or dildo.
Man, my girl gave me a Peanut BUTTER Jelly Time yesterday, she loved it.