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Peanut Butter 

You rub it on your nuts and your dog licks it off.
Peanut butter licked off my sack by my pooch nigga

Peanut Butter 

Used to be my favourite snack until the I learned the FDA allows up to 30 or more insect fragments, or one or more rodent hairs per 100 grams.
Buddy P- "Hey, What'd you have for breakfast"

Me- "Why, my favourite snack of course, Peanut butter on apples"

Buddy P casually replies- "oh so you mean you had rodent hair, cockroach legs and peanut butter on your apples?"

Me- Fuck you enemy P

peanut butter 

Diarrhea that is full off nuts looks like peanut butter
After eating a whole tub of stale out of date nuts I knew i was cursed to a full week of peanut butter
peanut butter by Jay Clarkson January 5, 2005

peanut butter 

A creamy delectabe spread usually consumed after one drowns an innocent fish.
":( ..... i just DRONEDED my fish!"
"um... have some peanut butter"
"o .... yay!"
peanut butter by Fish lover March 6, 2011

peanut butter 

slang for "piss boner"

since the intials of "piss boner" are 'p' and 'b', and so are the intials of "peanut butter" it makes sense

this comes in handy if you gotta use it in code
Dude 1: "hey dude can you grab me a text book while your up there?"
Dude 2: "why don't you get it yourself?"
Dude 1: "cuz man, i've got peanut butter right now!"
Dude 2: "ohhhh hahahaha suckuh"
peanut butter by t-cool September 8, 2007

peanut butter 

as opposed to jamming a dick into an orifice, one peanut butters a dick into an orifice
A: "dude what's the difference between peanut butter and jam?"

B: "I dunno? what?"

A: "you can't peanut butter a dick into an asshole!"

B: "you obviously aren't trying hard enough!"
peanut butter by holyshitaduck! March 12, 2013