Only three ingredients, and pretty easy if you don’t burn yourself with hot sugar like I did the previous time. While they are a little tedious (stir constantly, look for the color to change, stir again), they are worth the wait!
Pictures of the process here .
1/3 cup sugar
3 tablespoons water
1 ½ cups salted peanuts
Have a parchment – or, better yet, a silicone mat-lined baking sheet at the ready, as well as a long-handled wooden spoon (you’ll be cooking sugar that will climb to over 300 degrees F, so you’ll want to keep as far away from it as possible) and a medium (about 2-quart) heavy-bottomed sauce pan.
Put the sugar and water in the saucepan and cook over medium-high heat, stirring, until the sugar dissolves. Keeping the heat fairly high, continue to cook the sugar, without stirring, until it just starts to color. (If sugar splatters onto the sides of the saucepan, wash down the splatters with a pastry brush dipped in cold water.) Toss in the peanuts and immediately start stirring. Keep stirring, to coat the peanuts with the sugar. Within a few minutes, they will be covered with sugar and turn white – keep stirring until the sugar turns back into caramel. When the peanuts are coated with a nice deep amber caramel, remove the pan from the heat and turn the nuts out onto the baking sheet, using the wooden spoon to spread them out as best you can. Cool the nuts to room temperature. When they are cool enough to handle, separate the nuts or break them into small pieces.
Recipe part of the Snickery Squares  recipe.