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In a large, heavy bottomed saucepan, combine the sugars and milk over medium high heat. Stir CONSTANTLY until mixture reasches 228 degrees on a candy thermometer.
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Add butter, peanut butter and pecans and continue to stir until mixture reaches 240 degrees.
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Remove from heat and stir in vanilla.
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Beat VIGOROUSLY with a WOODEN spoon until mixture begins to thicken and lose the glossy appearance.
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Working QUICKLY, drop by rounded tablespoonfuls onto lightly greased aluminum foil.
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Cool completely and store in an airtight container.