This term is referred when a child captures a Butterfly and keeps it held captive in a jar. Not only does the Butterfly suffer to no end, but the child also reveals his/her finale scheme, in which the end goal is to cover the poor sucker in Peanuts.
Mentally unstable child: BUTTERFLY!!!!! Come to MEEE! Become one with the peanuts and die slowly! Peanut-Butterfly!
Butterfly: Noesz!!1! I don't want to die in peanuts.
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