Definition of peanut bum in English:

peanut bum

noun

historical, rare US
  • (Chiefly at Yale University) a celebration by a student society in which the students scramble for a large quantity of peanuts emptied over the floor of the society's hall.

    The entertainment appears to have arisen in the 1860s and been curtailed in the early 1880s.

Origin

Late 19th century; earliest use found in Lyman Bagg (1846–1911).