Oil a nonstick baking pan with a couple teaspoons of vegetable oil. Do the same to 2 spatulas. Set aside.

Place the sugar in a heavy-bottomed saucepan over medium heat. Stirring constantly, melt the sugar until it becomes caramel colored and thick. Add the peanuts, and stir to coat. Pour the mixture onto the baking pan, and begin forming it into a block (using the 2 spatulas to help you). As it cools, it will begin to hold its shape. Form it into a rectangle about 1½ inches high. Allow to cool completely, and break into bars. Wrap each bar separately in transparent plastic or waxed paper.