In the past
People from the countryside
Refer to something of cheap or low value. If something is surprisingly inexpensive, you could say "it's peanuts." Or if you're working for a very low wage, you could say "You're working for peanuts." Peanuts are a very cheap item in this context.
"It's going to cost $40 for all 5 of you to go."
"That's $8 a person. You're talking peanuts at that point."