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Butter the bottom and sides of a heavy 4-quart saucepan.
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In pan, combine the sugars, milk, corn syrup and salt.
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Cook and stir over medium heat until sugars dissolve and mixture begins to boil.
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Reduce heat; attach candy thermometer to pan.
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Continue cooking, stirring occasionally, until thermometer reads 236°F.
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Remove from heat; add peanut butter but do not stir it in; set pan aside.
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Do not stir or move pan during cooling.
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When thermometer reaches 115°F, add vanilla extract.
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Beat by hand until mixture loses its gloss; pour into buttered pan.
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When penuche is only slightly warm, cut into small squares.