1 can evaporated milk
4 c. sugar
1 tbsp. vanilla extract
1 small (18 oz.) jar of smooth peanut butter

In heavy pot, mix sugar into evaporated milk. Once this is done, start cooking the mixture on medium heat, while stirring almost constantly. Bring the mixture to a boil and cook to a soft ball stage. If you have a candy thermometer, you can use it to denote when the mixture gets to this stage. If you don't have one, you can test a drop of the mixture in a small amount of ice water placed into a small bowl. Continue to test the mixture at one to two minute intervals until you can form a soft ball with the mixture when rolled into a ball in the ice water by hand.

When the mixture reaches a soft ball stage, remove from the heat, add the vanilla extract and peanut butter and begin beating until the mixture begins to get sugary along the sides of the pot. When this happens, immediately pour the mixture into a 9 x 11 or 9 x 13 inch pan which has been coated (including sides) with butter. The size of the pan will determine the thickness of the fudge. The mixture should be creamy, not sugary, when poured into the pan. Let the mixture cool. When completely cooled, cut into squares and enjoy.