Cook over medium heat while stirring until butter is melted.
Bring to a boil, and boil for two minutes.
Remove from heat.
Stir in vanilla, and peanut butter.
Quickly add the oatmeal, and stir.
Drop by spoon full onto parchment paper-lined cookie sheets. (okay, honestly, I’ve found the parchment to be unnecessary. Sometimes cookies stick to the bare pan a little, but they always come off with a little twist.)