Combine in 2 quart casserole or measure cup sugar, water, salt and white corn syrup. Bring to boil in microwave (approx. 3 min.) Stir and add raw peanuts. Return to microwave and cook approx. 7-9 minutes or until soft ball stage.
Remove from microwave and add butter, vanilla, and food color. Cool and beat until creamy.
Drop by tablespoons onto greased cookie sheets or make into large patties.