The Virginia type of peanuts is what's sold at these events, as mentioned in a song written in 1908
I'll tell you what you can do:" ... Buy me some peanuts and Cracker Jack, [DOC] [TLE] 1908: The Peanut and Olive Tradition  History of Gamma Phi Beta [PAR] The June 1908 edition of The Crescent included an article entitled, A Brief 
Record of ... finding only peanuts and olives in the pantry, served them as if that 
was what she'd ... its own song and regularly appeared to mark special occasions 
of all kinds.