Heat oven to 400°F. Line 15x10x1-inch baking pan with aluminum foil. Lightly spray foil with no-stick cooking spray. Place saltine crackers in single layer onto prepared pan. If necessary, break additional crackers in half to fill in any gaps.
Combine butter and sugar in 1-quart saucepan; cook over medium heat until mixture comes to a boil. Continue cooking 1-2 minutes until mixture thickens slightly. Pour mixture over crackers; spread to coat all crackers.
Bake 5 minutes (mixture will look foamy). Remove from oven; sprinkle chocolate chips evenly over crackers. Continue baking 1-2 minutes or until chips are slightly melted.
Gently spread chocolate mixture over crackers; sprinkle peanuts evenly over top. Cool completely. Break or cut into pieces.
- Substitute brown sugar for sugar for a more toffee-like flavor.
- Substitute your favorite nut for chopped peanuts.