Mix sugar and flour together in pan. Mix egg and water together; beat with fork until uniform in color. Slowly mix the water mixture into the flour and sugar mixture until well blended. Add in the vinegar. Cook over medium heat until it boils, stirring consistently. Remove from heat and add butter.

In the meantime, cut up 3 to 4 bananas and crush about 1 cup of salted cocktail peanuts. Put the sliced bananas in a dish; pour the hot liquid over the bananas and sprinkle the peanuts on top.