Add peanuts and pumpkin pie spice to a blender or food processor and let it rip!
(The quality of your food processor will affect the amount of time this takes. Some take just a few minutes, others can take up to 10—so be patient! Watch for the stages it goes through, from whole nuts, to crumbs, to a thick and hard dough ball, and finally to a creamy, smooth butter once the oils release.)
Transfer to a jar to store, or portion into multiple jars for DIY edible holiday gifts!