Peter Pan的历史几乎和peanut butter的历史一样长。Joseph Rosefield发现在peanut butter中加入氢化植物油便可解决油水分离的问题，使peanut butter呈均匀乳脂状，且保质期要长得多，于是在1923年向Swift&Company授权这种新的生产方式，该公司开始以“Peter Pan”作品牌销售这种peanut butter。Peter Pan目前归属于ConAgra，北美最大的包装食品公司之一，市场占额紧随Jif和Skippy，但安全事故频发也让该品牌遭受严重的信任危机。
 
In 2007, Peter Pan caused 600 cases of salmonella poisoning due to broken sprinklers and leaking roofs in the factory, and Peter Pan tried his best to make up for it, renovating the factory, and keeping the price lower than the first two giants, plus the good taste, Peter Pan is still the favorite of a large number of consumers.
 
All of the peanuts used by Peter Pan come from Georgia, the largest flower producing region in the United States, and are canned in Georgia's sylvester for distribution. The Peter Pan has a very hard texture, which makes it difficult to spread on toast, even the Creamy model is not smooth enough, while the Crunchy is full of large flakes of crushed peanuts that are difficult to rub with the tongue when eating, and can only be chewed vigorously to melt into the raw sauce. With a minimum capacity of 16.3 ounces and a price of $2.39 (about 16.5 yuan), these two are larger and less expensive than their Skippy and Jif counterparts, and are slightly higher in calories and protein, with 10-20 calories and 1g more protein per serving.
 
Natural系列同样是将氢化植物油更换为棕榈油，其他配方无太大改动。而Original和Natural系列除了基本的Creamy和Crunchy之外，都有蜂蜜烤花生涂抹酱（spread）口味可选，甜度更高更可口。虽然涂抹酱中花生含量低于90%，盛放的甜味让本就不够明显的peanut butter香气更加隐蔽，但对于甜食爱好者来说，这种口味非常过瘾，甚至可以直接代替marmalade做一个PB&J三明治。Creamy /Crunchy Honey Roast Peanut Spread蜂蜜烤peanut butter定价最低，1.99美元（约合14元）即可购入，Natural款则为2.09美元（约合15元）。