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Preheat your oven to 200°F (93°C) and line a large baking sheet with parchment paper.
In a small saucepan, combine the butter, brown sugar, and corn syrup. Cook over medium heat, stirring occasionally until the mixture reaches a boil. Let it continue for 2-3 minutes without stirring, then remove from heat.
Stir in the vanilla extract and baking soda. The mixture will bubble up and become light and foamy.
Place the pretzel snaps in a large mixing bowl. Pour the warm toffee mixture over the pretzels and stir until they are evenly coated.
Stir in the Heath bits.
Spread the coated pretzels evenly on the prepared baking sheet. Bake for 45 minutes, stirring halfway through.
After baking, sprinkle the finely chopped roasted peanuts over the warm pretzels and toss gently.
Let the pretzels cool completely on the baking sheet, then break into bite-sized pieces and store in an airtight container.