Caramel Peanut Eyeballs

3 cups finely chopped dry roaster peanuts
1 (14-oz) can sweetened condensed milk
1 tsp vanilla extract
1/2 lb. chocolate confectioners' coating
red M n M's

1. In a heavy saucepan, combine nuts, sweetened condensed milk and vanilla. Over medium heat, cook and stir 8 to 10 minutes or until mixture forms ball around spoon and pulls away from side of pan.

2. Cool 10 minutes. Chill if desired.

3. Shape into 1-inch balls.

4. In a heavy saucepan over low heat, melt confectioners' coating .

5. With a wooden toothpick, dip each ball into melted coating and place on wax paper. Immediately press 1 red M n M into center of each ball.

6. Store covered at room temperature or in refrigerator.

Makes about 4½ dozen.