Yes, Schmand is a thick and long-lasting sour creme. Bauernschmand doesn't have a specific meaning (as far as I know, at least in my region), so on a menu it would mean "Schmand like a farmer would make it". This could either mean "housemade" etc., or refer to a special way to prepare it with other ingredients if served together with bread etc. As usual, more context would have been helpful.

Ich denke, das ist Creme

I think it might be the Bavarian or Austrian word for "Schmand" = sour cream. I'm sure this is what it means.

Schmand is like long lasting sour-creme as in it doesn't have to be refrigerated. My native German speaking wife has no idea what Bauernschmand is though. Logic would say that it's a farmers version of long lasting sour-cream?