Line a 9x13 cake pan with parchment paper and spread 2 cups of peanuts into an even layer.
In a medium-sized pan, add the butter, sugar, and vanilla. Stir over medium heat until the butter has melted. Let the mixture come to a simmer.
Simmer for 7 to 8 minutes, stirring occasionally and watching carefully, so it doesn’t burn. The mixture gradually turns darker and is still a little separated.
When the mixture turns the shade of caramel and flows from the spoon in a ribbon, pour over the peanuts.
Use an offset spatula to spread the mix over the peanuts.
Pour the bag of chocolate chips over the top and let sit for 2 to 3 minutes, so the chocolate chips melt.
Using an offset spatula, spread the melted chocolate over the layer of toffee.
Chop the remaining ¼ cup of peanuts and sprinkle over the top.
Let sit for 2 hours until the pan comes to room temperature, and then place it in the fridge until ready to enjoy.
Video
Notes
Watch the caramel carefully, so it doesn’t burn. The mixture will gradually turn darker and is still a little separated.