1Heat oven to 350 degrees. Coat nonstick loaf pan (11-1/2 by 5-1/2 by 3 inches) or 2 loaf pans (8-1/2 by 4-1/2 by 2-3/8 inches) with nonstick vegetable cooking spray.
Note: Picture shows bread made in a mold type bread pan available through cake decorating supply shops.
2Beat butter and sugar on medium speed in large bowl until smooth and fluffy, 2 minutes. Add eggs; beat 1 minute. Beat in applesauce (mixture will look curdled).
3Mix flour, cocoa, baking soda, salt, cinnamon and nutmeg in large bowl. Make well in center. Add applesauce mixture, chocolate chips and peanuts to well; stir into flour mixture until just combined and flour mixture is evenly moistened. Spoon mixture into prepared pan(s).
4Bake in 350 degrees oven 60 to 65 minutes, until toothpick tests clean. Let cool in pan(s) 15 minutes. Turn out onto rack; let cool completely.
Garnish: Mix sugar and cocoa and dust bread with this mixture.