Lightly grease 8-inch square pan. In large saucepan, melt peanut butter chips and frosting over low heat, stirring constantly until smooth. Remove from heat.
Stir in 1/2 cup peanuts. Spread mixture evenly in greased pan. Sprinkle with 2 tablespoons peanuts. Refrigerate 30 minutes or until firm. Cut fudge into squares.