Lightly spray a large sheet pan and then warm it in a low oven.

In a heavy 2-quart saucepan, over medium heat, bring to a boil the sugar, corn syrup, vanilla, and water. Stir until the sugar is dissolved.

Bring the mix to 250 degrees F.

Stir in the peanuts. Stir frequently until the temperature reaches 300 degrees F, when the mix is tan to light brown, then it should be ready to go.

Remove the pan from heat

Immediately stir in the butter and allow to melt

Add the baking soda and stir through; pour at once onto the warm cookie sheets and tip to spread out. Let cool and snap the candy into pieces.