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15 Hookers and Peanut Butter 

Having a gangbang with 15 hookers while being covered in peanut butter
Lawrence: Is it bad to like having 15 Hookers and Peanut Butter
Adam: I don't give a crap if you covered yourself in peanut butter and had a 15 hooker gangbang

hide the peanut butter 

using a desert spoon to lather intimate parts of you with smooth sunpat in preparation for your cat/dog/liger to eat it off, it hurts so good.
"after playing hide the peanut butter ben's cat no longer looks him in the eye"

"which eye?"

Reese's Peanut Butter FUCK 

When you are so excited to eat your Reese's that you forget to take off the SECOND rapper that is inconveniently the exact same color as the chocolate.
Ex 1:
Person 1: Hey man whatcha eatin?

Person 2: Wassup bro, just a Reese's peanut butter FUCK!

Ex 2:
HAHA screw you guys, I have a Reese's Peanut Butter --- FUCK!!!!

toot toot peanut butter

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.
toot toot peanut butter by JRPinCT December 26, 2008

gargle peanut butter 

phrase used to describe the level of capability to swallow a penis during oral intecourse
Guy1: dude i got some major head last night from this super hot hoebag
Guy2:NICE!!!! Can she gargle peanut butter???
Guy1: Hell yea!!!!!

inside peanut butter outside jelly

"inside peanut butter outside jelly" refers to having a tan/brown leather or plush interior in your vehicle, with a (metallic)candy paint job on the exterior. (These color schemes are commonly used on Lowriders or American Muscle Cars, such as Cheverolets.)
Inside peanut butter outside jelly
7 days of the week 7 different chevys
Black SS wit tha top blown off
f*** with them boys get ya top blown off