Oil is oil, regardless of where it comes from. Peanut butter just has less per volume than, for instance, the WD-40 I suggested. There are two approaches to removing adhesive residue and which one works best will depend on the type of glue involved. Oil will work well on any glue that doesn't harden, such as the contact cement used to attach shelf rugs to bows but is less effective on hard glues such as Barge cement. Hard glue residues are best removed with a solvent such as mineral spirit, etc. As noted, don't use strong solvents such as acetone on bows because the stuff can melt the glue holding the bow together and will surely damage bow finishes. One other example worth noting is natural glues such as hide glue. These can be removed with plain old water. A good rule is that if the glue can be thinned with water it can be removed with water. I've removed snake skins from bows by soaking them with water, giving it a few minutes to work and gently pulling the skins off.
Hope this helps.
John