12 ounces evaporated milk
1 cup sugar
1 tbsp light corn syrup
pinch of salt
2/3 cup peanut butter
3 tbsp unsalted butter
1/2 tsp vanilla extract
Boil the milk, sugar, corn syrup and salt over medium-high heat, stirring often. Simmer until it reaches 225°, approximately 10-12 minutes. Remove from heat.
Whisk in the remaining ingredients, and let the sauce stand at least 10 minutes before serving.
From Cuisine at Home magazine, August 2002