2 c. sugar
2 tbsp. white corn syrup
4 tbsp. butter
1 tsp. vanilla
1/2 c. Carnation milk

Combine ingredients and bring to a rolling boil over medium heat. Boil 1 minute. Let cool and add peanut butter.

For chocolate fudge: Substitute 1/4 cup cocoa for 1/2 cup peanut butter and boil all ingredients together.