In a small saucepan over medium heat combine butter, honey and half the cinnamon. Stir well and remove from heat when the butter is melted.
Now dump the peanuts in a large bowl. Add the honey-butter mixture and stir real good until evenly coated.
Next, spread the nuts out evenly on a greased cookie sheet and place the nuts in the oven. Roast for about 12 to 15 minutes. NOTE: The honey burns easily, so give this operation your full attention.
Remove the nuts from the oven and quickly dump them back into that large bowl before they begin to cool. Add the granulated sugar and the remaining half-teaspoon of cinnamon.
Stir well and spread nuts back onto the pan to cool completely. They will solidify into a large sheet.
Not to worry.
When the nuts are completely cool, break the chunks up with your hands and put the nuts into a different but equally large bowl. Add the powdered sugar (sifted), a couple tablespoons at a time, and work it in real good with your fingers, breaking up the chunks in the process.
They can be eaten right away or stored into a closed can for THE BIG GAME DAY!