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Peanut M&M 

The art of covering a guy's balls in some form of melted chocolate, Nutella, for example.
Last night, my friend's gave me a Peanut M&M. It fucking sucked, bro.
Peanut M&M by xbr0seidon June 29, 2011

Peanut M&M’s 

Makeshift anal beads in which one partner must suck the candy out the “bum” of another partner.
“Honey I forgot my anal beads, but I know you like peanut M&M’s. You wanna suck them out of my ass?”

Blue Peanut M&M

Delicious chocolate with peanuts inside.

The most appropriate use of a blue peanut M&M is to throw it at John Wilson during parties. Never eat a blue peanut M&M, for they contain an unknown substance that may kill you.
"Don't eat the blue peanut M&Ms!"

"I will never eat another blue peanut M&M..."

"The only appropriate usage of blue peanut M&Ms is throwing them at John Wilson."