In 12-inch nonstick skillet, heat oil over medium-high heat. Add chicken; cook and stir 5 to 6 minutes or until no longer pink in center.
Reduce heat to medium. Stir in 3/4 cup of the water, stir-fry seasoning mix and peanut butter until smooth. Stir in vegetables and bell pepper and onion stir-fry; cook and stir until thoroughly heated.
Meanwhile, cook rice in remaining 2 cups water as directed on package.
Serve chicken mixture over rice; sprinkle with peanuts.