A time or situation that involves the combination of peanut butter and any kind of jam. Such an even is a time of celebration/exitement in many cultures.
e.g. A Dancing bannana screaming the words "PEANUT-BUTTER-JELLY-TIME" repeatedly to any music at all.
by Captain. Bob Jesus March 12, 2003
it's the dancing banana. It is something you say to another person when they are feeling a bit down. You try to cheer them up by saying this and you do a little dance.
search 'peanut butter jelly time'
by Diana BoBana FeeFiFoFana December 3, 2007
It is slang for anal sex. The peanut butter is feces, and the jelly is KY Jelly. That's why a baseball bat is mentioned.
"It's peanut-butter jelly-time, peanut-butter-jelly-time, ...peanut butter jelly with a baseball bat."
by The Tao September 10, 2008
When a woman is on her period and doesn't do a good enough job wiping after taking a shit, blood and crap are stuck in the butt crack and are therefore called a peanut butter jelly sandwich.
My girlfriend Teresa is so gross. She never washed away that nasty peanut butter jelly sandwich forming in her ass crack.
by I-Am-The-Cold June 13, 2016
by zac August 10, 2003
Anal sex. Also known as "Santorum-time." Santorum meaning "that frothy mixture of lube and fecal matter that is sometimes the byproduct of anal sex."
by The Tao September 10, 2008
A sexual act in which a male alternates between inserting his penis in a woman's anus and vagina specifically when the woman is menstruating. Fecal matter deposited on the penis is referred to as the "Peanut Butter" due to its thick brown appearance and menstrual secretions are attributed to be the "Jelly" due the pasty red residue resembling strawberry jam. For added effect this act can be performed to the song with the same name, "Peanut Butter Jelly Time."
I heard the "Peanut Butter Jelly Time" song the other day and I had a sudden urge for some real Peanut Butter Jelly Time! My girlfriend just happened to be menstruating so I called her over for some good old fashioned fun. Things got rather messy but boy was it worth it!
by Valsleezy April 8, 2008