Whip the cream: In a large bowl, beat heavy whipping cream and powdered sugar until stiff peaks form. Set aside.
Prepare the peanut butter filling: In another bowl, mix peanut butter, cream cheese, granulated sugar, and vanilla extract until smooth and creamy. Gently fold in half of the whipped cream. Set aside the remaining whipped cream for the topping.
Assemble the cake: In a 9×13-inch dish, spread a thin layer of the peanut butter mixture on the bottom. Add a single layer of graham crackers on top, breaking them to fit as needed.
Spread a generous layer of the peanut butter filling over the graham crackers. Repeat the layers (graham crackers and filling) until you use all the filling, ending with a layer of graham crackers.
Spread the reserved whipped cream evenly over the top layer of graham crackers.
Chill: Cover the dish with plastic wrap and refrigerate for at least 4 hours or overnight to allow the cake to set and the graham crackers to soften.
Decorate and serve: Before serving, sprinkle chopped peanuts on top and drizzle with chocolate syrup or melted chocolate if desired. Slice and enjoy!
Prep Time: 15 minutes
Chill Time: 4 hours
Total Time: 4 hours 15 minutes
Kcal: 350 per serving
Servings: 12
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