2 1/2 cups granulated sugar
1/2 cup light corn syrup
1/2 cup water
2 egg whites at room temperature
1/2 cup chunky peanut butter

In a 9-quart saucepan combine sugar, corn syrup, and water. Bring to a boil and cook until it reaches the hard-ball stage (260 degrees F on a candy thermometer), stirring constantly until sugar dissolves. After that point stir frequently and test by dropping a bit from your spoon into a cup of cold water. When the syrup forms a hard ball after submersion in the cold (but not ice) water, it is ready.

In a large bowl beat egg whites until they form stiff peaks. Gradually pour the cooked syrup onto egg whites, beating continuously at high speed with an electric mixer. Add peanut butter and beat until candy holds its shape, about 3 to 4 minutes. Test candy by spooning a small amount onto waxed paper. Mixture should mound rather than flatten out. When candy is ready, quickly drop from a teaspoon onto wax paper.