2 (8 oz.) cartons frozen whipped topping
1 c. confectioners' sugar
1/3 c. milk
1 c. peanut butter
1 (8 oz.) pkg. cream cheese
2 graham cracker crusts

Add sugar to softened cream cheese, stir in milk and peanut butter. Fold in whipped topping and pour into shells. Top with second carton of whipped topping. Sprinkle with crushed peanuts.