In a small saucepan, combine sugar, cocoa powder, and water. Heat over medium heat and stir until sugar and cocoa powder dissolve.
Add milk and peanut butter and stir. Heat, stirring occasionally, until milk begins to steam and peanut butter is completely dissolved.
Pour into an 8-ounce mug, top with optional whipped cream and peanut butter sauce if desired and enjoy.
Approximate nutritional information is for Peanut Butter Hot Chocolate only. To make peanut butter sauce, combine 2 tablespoons corn syrup and 1 tablespoon peanut butter in a small microwave-safe bowl. Microwave for 10 to 20 seconds, until syrup just begins to bubble. Carefully remove from microwave and stir until completely mixed and smooth.Microwave Hot Chocolate Instructions: To make peanut butter hot chocolate in the microwave, combine cocoa powder, sugar, and water in a mug. Stir until well-mixed and microwave for 15 seconds. Add peanut butter and stir until mostly smooth before adding the milk. Microwave 1 to 1 ½ minutes, until steaming. Stir once more, and enjoy!