In medium saucepan combine sugar, evaporated milk, and butter. Cook over medium heat until mixture comes to boil, constantly stirring. Once mixture begins to boil, cook and stir for 5 minutes.
Remove from heat and add peanut butter, marshmallow cream and vanilla. Beat well until all ingredients are incorporated. Pour into buttered 8x8 dish.
While peanut butter layer is setting up prepare the chocolate layer. Follow the above directions, but add 1/4 cup cocoa to the sugar, evaporated milk and butter. Bring to boil, and cook stir for 5 minutes. Removed from heat and add the vanilla, marshmallow cream, and peanut butter. Once the ingredients are incorporated pour over peanut butter mixture and let cool. Cut into small squares