Line a baking sheet with foil. Arrange pretzels in a single layer. Sprinkle with ¼ c. chopped peanuts.
Heat butter, sugar, vanilla and salt in a nice sturdy saucepan on med heat until butter is melted. Turn temp up to med-high and stir constantly until mixture comes to a boil.
Set your timer for 5 minutes and DO NOT let ANYTHING disturb you while you stir. You must keep stirring your butter/sugar mixture so that it does not burn. And you must use a WOODEN spoon.
Keep stirring until your timer goes off. It may even smoke a tiny bit and that is ok. If you are really concerned, lift you pan off of the burner (while you are still stirring) to remove it from the heat, but still stir until your timer goes off. You are looking for toffee that is the color of a brown paper bag. Not tan or beige, but BROWN.
Immediately pour hot toffee over pretzels and peanuts.
Do not scrape the bottom of the pan. As you pour, the bottom will brown and you don’t want that in your toffee.
Fill your pan with hot water and set it aside. It will start dissolving the toffee left inside and make it easier to clean.
Let toffee cool. It should harden within a couple of minutes.
Melt chocolate chips in a microwave-safe bowl for 30 seconds. Stir. Melt an additional 20 seconds. Stir.
Spread across your toffee with a small spatula or butter knife.
Melt peanut butter chips in frosting bag or plastic freezer bag (the plastic on freezer bags is thicker than sandwich or snack bags) for 30 seconds. Make a small cut in the corner of the bag for drizzling.
Drizzle melted peanut butter chips over toffee. Sprinkle with remaining chopped peanuts.
Allow chocolate to set. Break toffee into small pieces.
Store in airtight container.
Video
Notes
Here are some more helpful hints for making this toffee recipe.
Do NOT double the recipe
You must use a WOODEN spoon
Use a clean, dry pan for each new batch.
Cook over high- medium/high. (My stove is gas and tends to cook really hot, really fast. So I usually drop the heat to medium for my toffee, but in years past when I had an electric flat top stove, med-high worked best.)
The 5 minute cook time is just a guide. If you hit 5 minutes and your toffee still isn't the color of a brown paper bag, add an extra minute. Cook times vary on each stove.