all I could find about it was something to do with a song called Peanut Butter Jelly Time:
Peanut Butter Jelly Time Story
Peanut Butter Jelly Time is a Flash animation that first emerged at the early early part of this century and quickly became an Internet phenomenon. The animation is based on a song of the same name recorded by DJ Chipman of the Buckwheat Boyz. The best known version of the animation which can be seen above shows a highly pixelated Dancing Banana moving back and forth to the song's chorus.
here is the link
Peanut Butter Jelly Time