Combine sugar, corn syrup and water; cook over low heat, stirring, until sugar dissolves.

Cook to soft ball stage or 236 degrees on candy thermometer, stirring constantly.

Add salt and peanuts; cook to hard crack stage or 295 degrees on thermometer, stirring constantly.

Remove from heat. Add butter and soda; stir lightly.

Pour evenly onto WELL greased waxed paper OR cookie sheet, cool partially, lifting around edges with knife.

Cool until firm; turn. Cool completely; break into pieces.