- 1 1/2 cups powdered sugar
- 1 - 8-ounce package cream cheese, room temperature
- 1/2 cup (1 stick) unsalted butter, room temperature
- 1/2 cup smooth peanut butter (do not use old-fashioned or freshly ground)
- Sift powdered sugar into large bowl.
- Add cream cheese, butter, and peanut butter. Using electric mixer, beat mixture until smooth.
- Spread frosting over top of cupcakes, dividing equally. Sprinkle lightly with chopped peanuts, if desired.