what you guys arent realizing about the odds in this hand is that he already has the peanut butter and jelly to go with a piece of bread. Now there is only one jar of peanut butter and jelly each so he knows that villain cant be drawing to the sandwich, which makes his draw the (pea)nuts.
However with his one piece, there are 23 other pieces of bread left in the loaf that he can hit to complete his sandwich and the 4 outs to draw to a full house.