1/2 lb butter
1/2 lb Velveeta Style cheese, cubed
1/2 cup peanut butter (smooth or chunky)
2 lbs powdered sugar
1 tsp vanilla
In a large mixing bowl, melt the butter and the cheese together (about 1 ½ minutes in the microwave), stir in peanut butter until smooth. Add powdered sugar and stir until about half incorporated. Add vanilla. Continue to stir until no trace of white sugar is left. Pat into a 9x13 inch dish and allow to cool. It will take about an hour at room temp or 30 minutes in the refrigerator.
If you like, you can melt about ¾ cup chocolate chips (semi-sweet or milk chocolate) and pour into a small plastic bag. Squeeze out the air and seal the bag. Punch a VERY small hole in one corner of the bag and squeeze the chocolate out on the fudge in swirls or whatever looks good to you.