Put water and sugar in a pot and bring to a boil. Let it simmer for about 5 minutes over medium low heat and remove from heat.
In another large non-stick pot, melt the butter. Then add flour and peanuts in it and cook over medium-low heat for about 15 minutes or until golden, or you feel a toasted aroma, stirring continually. When it’s done, bring it to the lowest heat and pour the boiling syrup into the pot. Be careful not to burn yourself as it might splash out of the pot.
Stir it with a wooden spoon as fast as you can until smooth. When it gets thicker than pudding, it’s done.
Remove from heat and let it cool.
Serve them in small cups or shape them using a tablespoon or with your hand as in the picture before serving.
Top with ground pistachio, coconut flakes or cinnamon.