Gather all ingredients.
Toss together chicken, soy sauce, chili powder, and garlic powder in a large skillet until chicken is evenly coated. Add oil and ¼ cup of the chicken broth; cover and cook over medium for 6 minutes if using chicken breasts, or 8 minutes if using thighs, stirring once halfway through (chicken will not be fully cooked).
Stir together peanut butter, pepper jelly, and remaining ½ cup chicken broth in a medium bowl until thoroughly combined. Stir peanut butter mixture into chicken until chicken is evenly coated. Cook, uncovered, over medium-low, stirring occasionally, until liquid is reduced by half and a thermometer inserted into thickest portion of chicken registers 165°F, 3 to 5 minutes for chicken breasts or 6 to 8 minutes for thighs. Stir in vinegar. Garnish with cilantro or parsley. Serve with rice.
