These are the pink or red peanut patties you find at gas stations, only much, much better!
In a saucepan over medium-low heat, combine the sugar, corn syrup, evaporated milk, and peanuts. Bring to a slow boil, and stir to blend once heated. Let boil until the mixture reaches a temperature of between 234 and 240 degrees F (112 to 116 degrees C), or until a small amount of syrup dropped into cold water forms a soft ball that flattens when removed from the water and placed on a flat surface. This may take up to 1 hour.
Stir in the butter, vanilla and food coloring once the mixture has reached the proper temperature. Spoon out onto waxed paper or parchment paper to form patties. Cool until set.
Per Serving: 460 calories; protein 10.9g; carbohydrates 63.8g; fat 20.5g; cholesterol 8.6mg; sodium 47mg.