Definder - what does the word mean?

What is seldom Peg-Bis?

A penguin biscuit that actually has a good joke.

Charlie: "Hey man, can i read your penguin wrapper joke?"
Eithel: "Why bother, the jokes on it are so bad"
Charlie:" You never know you might have a seldom Peg-Bis"

*Looks at wrapper*

Q. What do penguins sing to each other on their birthdays ?

A. Freeze a jolly good fellow

Charlie: "No not this time."

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seldom Peg-Bis - video