The rheological properties of two types of commercial peanut butter have been studied. Both products are concentrated suspensions, and differ by the presence of additives. The first type, referred to as "100% peanuts," is an unstabilized suspension consisting of solid peanut particles in peanut oil which is a Newtonian fluid. The second type, referred to as "smooth," consists of the same suspension stabilized with a vegetable oil and contains other ingredients such as salt and sugar in very small quantities. A mean volume particle diameter of 6.6 mum has been determined, the particle diameter distribution was found to be narrow, and the solids volume fraction was estimated to be 0.6. Slip encountered in rheometry was greatly reduced by gluing sandpaper to the parallel plates of the rheometer. Both samples behaved like plastic materials and apparent yield stresses of 24 Pa and 370 Pa have been determined for the unstabilized and the stabilized suspensions, respectively. No linear domain was found for both suspensions and the nonlinearity was confirmed by deformed Lissajous curves and higher odd harmonics in the output signal of small amplitude oscillatory shear experiments. The stabilized suspension behaved more like a solid, the elastic modulus being larger than the loss modulus and almost independent of the frequency. This solid-like behavior is supposedly caused by strong repulsive (steric) forces induced by the stabilizing agent.