Update: I HIGHLY recommend roasting your peanuts first. Simply spread them on a baking sheet and roast on 350º for about 8-10 minutes. Keep an eye on ’em so they don’t burn. You can blend them while they’re still warm.
Pour peanuts into blender and blend until smooth. Blend for 1 minute, stop, stir, and scrape, and blend for about 1 more minute. Give your food processor a break if need be, but then go for another 2 minutes. You can add 2 Tablespoons of oil (coconut!) or a Tablespoon of honey to make it smoother or sweeter if you’d like, and then blend again. Your total blending time should be 4-5 minutes. (I recommend adding these optional ingredients after the PB has reached the desired consistency.)