Ingredients:

  Amount  Measure       Ingredient -- Preparation Method
--------  ------------  --------------------------------
     1/2  cup           butter or margarine -- softened
   2      cups          shredded cheddar cheese
     1/4  teaspoon      cayenne pepper
     1/4  teaspoon      salt
   1      cup           flour -- all-purpose
     1/2  cup           oven-toasted rice cereal
     3/4  cup           finely chopped peanuts

Preparation:

1. Cream butter, cheese, cayenne pepper and salt together in large mixing bowl. 2. Mix in flour, then cereal and peanuts. 3. Press dough into small loaf pan and chill in freezer until firm. 4. Place chilled dough on cutting board; cut into 1/8-inch thick slices. 5. Place slices 1 inch apart on cookie sheets; bake in preheated 325F over 12 to 15 minutes, or until golden. 6. Transfer crackers to wire rack. 7. Serve warm or at room temperature.