Stir together 2 cups of the flour and the yeast; set aside. Heat and stir the water, sugar, shortening, milk powder, and salt until warm (120 degree F to 130 degree F) and shortening is almost melted; add to flour mixture. Add eggs; beat with electric mixer on low speed for 30 seconds, scraping bowl constantly. Beat on high speed for 3 minutes. Using a wooden spoon, stir in as much of the remaining flour as you can.
On a lightly floured surface, knead in enough of the remaining flour to make a soft dough that is smooth and elastic (3 to 5 minutes total). Shape into a ball. Place in a greased bowl; turn once. Cover; let rise in a warm place until double (about 1 hour).
Punch dough down; divide in half. Cover; let rest 10 minutes. Chill 1 portion. Roll remaining portion into a 16x9-inch rectangle; spread with half of the Peanut Butter Filling. Fold rectangle in half lengthwise; cut crosswise into 16 equal pieces. Hold ends and twist, pinching firmly. Repeat with remaining dough and remaining Peanut Butter Filling.
Arrange on a lightly greased foil-lined baking sheet, pressing ends down. Bake in a 350 degree F oven about 15 minutes or until golden. Drizzle with Powdered Sugar Glaze. Sprinkle with peanuts. Serve warm or cool. Makes 32 breadsticks.
Powdered Sugar Glaze
Stir together powdered sugar and, if desired, cocoa powder. Stir in margarine or butter. Stir in warm water, 1 tablespoon at a time, until of drizzling consistency.
Peanut Butter Filling
Combine peanut butter, powdered sugar, and softened margarine or butter. Stir until smooth and spreadable.