In a double boiler over hot water, place peanut butter to heat while preparing syrup. In a large saucepan combine sugar,corn syrup and 1/4 cup of the water. Cook over high heat to 275 degrees on a candy thermometer. Lower heat to medium, add butter, stirring until melted. Add peanuts, cook stirring for about 5 minutes until candy starts turning brown and reaches 300 degrees on the thermometer. Remove from heat, stir in baking soda that has been dissolved in a teaspoon of water.

Add vanilla.

Working quickly, fold in the warmed peanut butter, while stirring gently. At once, pour candy mixture onto a well greased marble slab or a cookie sheet. Very quickly...spread as thin as possible! The secret of the candy is quick cooling. When cold ...break into serving size pieces.