1/3 c. butter
1/3 c. flour
1/2 c. sugar
1/2 c. peanut butter
1 (12 oz.) can evaporated milk
1 (12 oz.) can water
1 1/2 tsp. vanilla

In a 3 quart saucepan on low heat, melt the butter, add peanut butter, sugar and flour. When smooth, slowly add evaporated milk and water. Boil over low heat, stirring constantly. Cook until thick, 2 minutes. Remove from heat, add vanilla. Put in a bowl and cover with plastic wrap (place wrap right on pudding to prevent a skin from forming. 8 (1/2 cup) servings.