You had the first half right, it's "beans and cornbread". It's a southern cheap staple meal of pinto bean soup with cornbread crumbled into it. Usually with a side of "fried taters" (potato coins skillet-fried in cast iron).
I have searched for full segments of this and never found more than 1 or 2 and a handful of commercial segments. I wish they'd put out special collections of these kinds of things on physical media.
I remember watching this sometimes as a kid. It was fun to see what food they paired with the movie. I will never forget the intro song Beans and Cornbread, so catchy.
I agree with others saying this was on the level of Up All Night on USA. Another good one was Monstervision on TNT.
I think what also made these shows so much fun wasn't just the movies, but the hosts. Rhonda, Gilbert Godfrey, and Joe Bob Briggs helped make late night movies/B-movies worth watching.
My cable didn't carry USA network but we had TBS, so I don't really have anything to compare it to. But from what others have said, yeah it does sound very similar.
But yeah, the right hosts and framing device can make even the worst B-movies worth watching for sure.