1Heat oven to 350ºF. Mix brown sugar, shortening, vanilla and eggs in large bowl. Stir in flour, oats, baking powder and baking soda. Stir in cereal and peanuts.
2Shape dough by rounded teaspoonfuls into balls. Place about 2 inches apart on ungreased cookie sheet. Flatten slightly with greased bottom of glass dipped in sugar.
3Bake 10 to 12 minutes or until set. Cool 1 minute; remove from cookie sheet to wire rack.