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Preheat the oven to 350° F. Line a 9x13 inch baking pan with parchment paper. Arrange the pretzels in an even layer in the pan.
Melt together the butter, brown sugar, and cream in a pot set over medium heat. Bring to a boil and cook until the mixture is bubbling, about 4 minutes. Remove from the heat, stir in the vanilla. Pour the sauce over the pretzels. Bake for 5 minutes, until the sauce is baked onto the pretzels.
Sprinkle with chocolate chips and bake for another 1 minute to melt. Spread the chocolate evenly, top with peanuts, and then sea salt.
Freeze or chill for 1 hour or until set. Break into small pieces for serving.