It's cornstarch, so it's adjunct like any other corn based product. The only issue to figure out is if the process to make them into peanuts pre-gelatinized them or not. I.e. if they're like flaked corn, and don't need to be converted, or if you need to do a cereal mash with them, like you would with plain old cornstarch or grits or whatever.
I guess the way to know would be to heat some water to around 152 degrees. Drop a pound of peanutes (or maybe just a few handfuls) into the water, let them dissolve for 20 minutes, then take a gravity reading.
If they're not sweet then you just have to do a cereal mash with them and some two-row.
As to a recipe, this would be great for a basic cream ale, people on here, myself included, have used all manner of types of corn for this type of beer; popcorn, tortilla chips, grits, cornstarch, creamed corn, hominy, cornbread, corn cereal, anything made of corn. So it's not really unique in the sense that you're using corn.....just that the form the corn takes.
If you don't know what a cereal mash is, google it. The main sites that google brings up are excellent resources.
The only issue is to figure out the ppg of the corn. Maybe you DO need to be more formal in your structure of this experiment. Maybe you need to use 1 gallon of water, and one pound of peanuts. Or perhaps you can find the amount of cornstarch in there online. Or maybe just measuring them and treating them like cornstarch. This part I don't know.
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