Line a baking sheet with parchment paper and set aside.
Make the caramel: In a saucepan melt butter over medium heat, add heavy cream (be careful, it will bubble a little), remove from heat. In another saucepan mix sugar, water, honey and vanilla and stir until you get a thick paste. Bring to boil then simmer for about 5 minutes. Add butter and heavy cream mixture, simmer until golden brown (be careful to not over cook or the sauce becomes bitter).
Leave to cool just a little until it's not too runny, then dip potato chips in. Gently tap the chips to remove excess caramel.
Set the dipped chips on the baking sheet.
Sprinkle crushed peanuts.
Enjoy your delicious caramel potato chips snacks!