1 (12 oz.) pkg. peanut butter flavored chips
1 (14 oz.) can sweetened condensed milk (not evaporated milk)
1/4 c. butter
1/2 c. chopped peanuts; optional
1 (6 oz.) pkg. semi-sweet chocolate morsels

In large saucepan, melt peanut chips, 1 cup of the sweetened condensed milk and 2 tablespoons butter; stir occasionally. Remove from heat; stir in peanuts. Spread mixture into wax paper-lined 8 inch square pan.

In small saucepan, melt chocolate morsels, remaining sweetened condensed milk and butter. Spread chocolate mixture on top of peanut butter mixture. Chill 2 hours or until firm. Turn fudge onto cutting board; peel off paper; and cut into squares. Tightly cover the leftovers. Makes about 2 pounds.