The phrase came originally from Wayne’s World, which was first an SNL sketch, yeah. Bill & Ted aren’t from SNL, though, and predate Wayne and Garth by a good bit. Bill & Ted said “party on,” among other things, but not “party time, excellent.” That’s specifically the Wayne’s World theme song iirc.
It all came from SNL and the characters they played on there.
The phrase came originally from Wayne’s World, which was first an SNL sketch, yeah. Bill & Ted aren’t from SNL, though, and predate Wayne and Garth by a good bit. Bill & Ted said “party on,” among other things, but not “party time, excellent.” That’s specifically the Wayne’s World theme song iirc.
I believe both came out in '89
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The SNL skit started in 89