Place a pan on the stove on low-medium heat.
Once the pan is hot add the syrup, allow to heat for a minute.
Then add the peanut butter and vanilla extract. Continue to heat for another 4 minutes.
Mix well with a whisk until thoroughly combined. You only want the syrup to be warm to hot, you don’t want it to burn at all or stay on for too long.
Remove from heat and transfer to a container for serving.