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Peanut Butter Couple 

A romantic (or platonic/casual) relationship between a ginger and an african american.
Everyone hates a peanut butter couple. They're either extremely happy, or the black partner is brutally abusive.

peanut butter pretzel 

The male partner must go for a workout and get his penis extremely sweaty and salty. The other partner will then put peanut butter in their bellybutton . The male partner will then dip his penis in the peanut butter and the other must lick it off. It will taste like a peanut butter pretzel
I had the most amazing peanut butter pretzel with your mom last night

peanut butter and jelly 

A American Jihadi code term for explosives training.
the name peanut butter and jelly would make sense as a synonym for explosives training when one compares amateurish home explosives making, I.e. chemical mixing, with amateurish incompetent home cooking, I.e. ingredient mixing.

peanut butter and jelly 

An American Jihadist colloquial code term for explosives training.
the name peanut butter and jelly, from a secular standpoint, would make sense when one compares amateurish home explosives making, I.e. chemical mixing, with amateurish incompetent home cooking, I.e. ingredient mixing. However, in a Jihad context, the FBI should learn what the term means.

Peanut Butter Shuffle 

When you are finished taking a dump, but there isn't anything you can use to wipe nearby, and you waddle cheeks spread to find toilet paper.
Guy 1: What is he doing?
Guy 2: Ha! The Peanut Butter Shuffle! I made sure to take all the paper out of the bathroom.
Guy 1: That's sick dude...

Peanut Butter and Bitches

A word used when frustrated or angry.
"Hey Bob, someone stole yo dank."
"Aww Peanut Butter and Bitches!"