Heat oven to 450°F. Spray broiler pan with nonstick cooking spray. Alternately thread chicken, mushrooms and onions on six 8- to 12-inch metal skewers. Place on sprayed broiler pan.
In small bowl, combine 2 tablespoons of the teriyaki sauce and oil; mix well. Brush on kabobs.
Bake at 450°F. for 18 to 20 minutes, or until chicken is no longer pink, turning once and brushing with teriyaki and oil mixture. Discard any remaining teriyaki and oil mixture.
To prepare sauce, in medium bowl, combine remaining teriyaki sauce, peanut butter and hot pepper sauce; mix well. Using a clean brush, brush sauce on kabobs before serving. Serve with remaining sauce.