Place the peanuts, sugar, vanilla, cinnamon and water in a pan, bring to the boil without stirring. Reduce the heat and simmer for approx. 10 mins., stirring occasionally until the water has evaporated and the sugar is dry. Continue to stir with a wooden spoon until the sugar melts again and coats the peanuts (approx. 5 mins.). Spread the peanuts on a baking tray lined with baking paper, leave to cool.