Line a 9×13 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.