Cream together margarine, butter, sugars and caramel extract. Combine 1 1/2 cup flour, salt, baking soda, and pudding mix and add to wet mix and stir well. Then add the last 3/4 cup flour, stir until combined and add white chocolate chips, caramel bits, and peanuts.
Drop by teaspoonfuls onto cookie sheets covered in parchment paper, about 2 inches apart. Bake at 375 degrees for 9-11 minutes.
Remove pan from oven and let cookies sit on pan 2 to 3 minutes. Remove cookies from sheet to wire rack to cool completely.