In a pan, mix stick of butter, oil & water.
Boil 2 minutes and add buttermilk, 2 eggs ( beaten) & vanilla. Add peanut butter. Set aside.
In large bowl, sift flour, sugar, baking soda, & salt all together.
Pour butter mixture over the flour mixture, beat until smooth.
Bake in 2 - 9" greased & floured pans.
Bake 350* for 30-35 minutes. Cool before frosting.
Combine sugar & milk. Boil 1-1/2 minutes, stirring. Add peanut butter & vanilla. Beat and frost the cake.
Not a NESTLÉ®-tested recipe.