To peel shrimp, open the shell down the underside. Starting at the head, pull back the shell. Gently pull on the tail to remove. Use a sharp knife to remove the black vein that runs along the center of the back. Rinse under cold running water. To cook shrimp, in a large saucepan bring 4 cups water, 1 teaspoon salt, and 1/2 teaspoon black pepper to boiling. Add shrimp. Simmer, uncovered, for 1 to 3 minutes or until shrimp turn pink, stirring occasionally. Rinse under cold running water; drain well and chill.