Banana Split first aired on October 11, 2008. The second season premiered on February 28, 2009, and the third season on April 18, 2009 with a new cast. The fourth season premiered on July 18, 2009. A 30-minute version began airing every weekday afternoon from September 30, 2009, entitled Banana Split: Daily Servings, as part of the Hapontastic block. On August 18, 2010, it was moved to morning timeslot at 10:00 to 10:30 a.m. However it was moved again twice as early as 9:00 to 9:30 a.m. starting June 27, 2011. On July 9, 2011 the Saturday show was reformatted as Banana Split: Extra Scoop which features live comedy performance including the return of Clown in a Million Season 2, a reality comedy search. On September 12, 2011, Banana Split: Daily Servings will be renamed as Banana Split: Lafternoon Delight and moved to 2:45 pm slot. Due to low ratings, Banana Split: Lafternoon Delight was ended on October 7, 2011.
Banana Split: Extra Scoop airs every Saturday night and surprisingly, the show did well and garnering higher ratings on its timeslot compare to other counterpart programs. Because of its success in the late night timeslot, the network decided to launch a version of the gag show airing Tuesday-Saturday at after Bandila from February 25, 2013 onwards titled Banana Nite. Starting Monday, August 5, 2013, Banana Nite will now air 15 minutes longer from 11:30PM–12:15 AM. Starting Monday, February 10, 2014, Banana Nite will go back to 30 minutes from 12:25AM–12:55 AM. Banana Nite ended on October 30, 2015 after their two-year run also Banana Split Extra Scoop ended on November 7, 2015 after its four-year run to be reformatted as Banana Sundae that it premiered on November 15, 2015 and it moved to Sunday depicting its program's name. The move was seen as the network's answer to another weekend comedy-variety show Sunday PinaSaya from competitor GMA Network. Starting April 9, 2016, Cine Mo! started airing segments from Banana Split every Saturday 9pm entitled Banana Bites: Ibang Klasiks.
Lito Camo composed the theme song Banana Split performed by Kool Chix, and is available as a bonus track in Willie Revillame's album Giling Giling from Star Records. But during Season 3 the theme song was changed.
During the December 6, 2008 episode, coverboys Rafael Rosell, Jon Avila and Will Devaughn were involved in a practical joke segment following a dating game format, where they kissed an extra gay instead of the Banana Split girls. This event caused a short rift between Rafael and a Banana Split executive producer. As a result, few clips were aired instead of the whole segment. Also, a public apology was delivered after the end of the show.