Mixing in dried cherries and chopped cocktail peanuts strikes the perfect balance between sweet and salty in these kid-friendly treats.
Preheat oven to 325 degrees. In a stand mixer fitted with the paddle attachment, beat butter on medium-high speed until smooth. Add peanut butter and both sugars; beat until light and fluffy, 1 to 2 minutes. Add eggs and vanilla; beat just until combined.
Whisk together flour, baking soda, and salt. Add cherries; toss to coat. Add flour mixture to peanut-butter mixture; beat on low speed just until combined. Stir in peanuts.
Scoop heaping-tablespoon balls onto baking sheets, 3 inches apart; flatten each slightly. Bake, rotating sheets halfway through, until just set, 16 to 18 minutes. Let cool on sheets 5 minutes, then transfer cookies to a wire rack; let cool completely. Cookies can be stored in an airtight container up to 1 week.
Since this recipe yields a lot of cookies, you can portion out half the dough into balls and freeze them on baking sheets until solid, then transfer them to resealable plastic bags to store in the freezer until you're ready to bake more.