Cover large cookie sheet with Release or parchment paper. Place over two burners, turned to the lowest temperature. Set aside.

Add sugar, corn syrup, salt and water to a heavy 2-quart saucepan. Bring to a boil over medium heat, stirring until the sugar is dissolved. Set candy thermometer in place, and continue cooking, stirring frequently. When the temperature reaches 250° F, add the peanuts. (Note that the addition of the peanuts will lower the temperature and thicken the mixture.) Continue cooking, stirring frequently, until the temperature reaches 300° F, or until a small amount of the mixture dropped into very cold water separates into hard and brittle threads.

Remove from heat; immediately stir in butter and baking soda. Pour at once onto heated cookie sheet. Using a large spoon with the back sprayed with Pam, spread the mixture into a rectangle, about 14 x 12-inches; cool. Snap candy into pieces. Store in an airtight container. Yield: 16 servings.