Sift together the flour, baking powder, salt, and set aside. Whip the soften butter and sugar until light and fluffy.
Add one egg and keep mixing until incorporated. Add the dry ingredients in two butches and knead the dough. Cover the dough with a plastic wrap and chill for 30-40 minutes.
Roll out the chilled dough between two pieces of parchment paper until it’s a 1/4’ thick. Using a round cookie cutters cut out the rings and transfer them onto a baking pan covered with parchment paper. In a small bowl, whisk the second egg, and egg wash the cookie rings. Garnish the cookies with chopped peanuts and bake at 350 degrees F for 20-25 minutes or until golden brown on the top and the bottom.