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Christmas Peanut Butter Fudge

16 ounces white chocolate chips
1 teaspoon vanilla extract
1 cup chopped walnuts or pecans
1 cup creamy peanut butter
1/2 cup chopped candied cherries

Butter the bottom of an 8- or 9-inch square pan. Line pan with aluminum foil.

Melt white chocolate chips in double boiler; add peanut butter and vanilla extract. Mix until smooth and add nuts and cherries. Pour into prepared pan. Let set long enough to become firm. Cut and serve.