This was my daddy's favorite candy. I like these so much better than the ones you buy. I didn't even like peanut patties at all until I made these for Daddy. Now all my grandchildren ask for these to be made at Christmas. I like the ones without as many peanuts, the pink candy is really good!
Lay out wax paper to lay out candy on. This sets up really fast once it gets to that point. A friend suggested using 2 people to drop out the candy because of that.
In heavy saucepan combine sugar, light corn syrup, water. Heat to boiling. Once all sugar is melted and mixture is boiling add the peanuts and food coloring.
Continue boiling until a long thread drips down from the spoon when held up over the pan. The long thread should be a long spiderweb-looking thread. It should easily get to 6 inches. Remove from heat.
Add vanilla and butter. Beat until mixture starts to thicken and loses some of its gloss. Quickly spooon out candy. I have found that if you don't let the candy get completely cool it is much easier to get them off the paper they are dropped out onto. Store in a covered container.