Whisk all purpose flour and milk in a bowl until smooth. To this, add eggs, vanilla, cinnamon, & nutmeg and whisk until combined well. Keep aside. Dip the bread slices in egg mixture and leave aside for 10 seconds until mixture is lightly absorbed. Heat a pan over medium heat. Add butter to the pan. Place the coated bread slices to the pan.

Cook the bread on both sides with the lid on in low flame until browned on both sides and crisp. Spread a tablespoon of peanut butter on each side of bread. Serve as single slices or as sandwich.