Mix all the ingredients in the blender and put in a squeeze bottle. Heat the waffle iron and bake the waffles. Store them in an airtight blister.
Peanut butter
Mix the peanuts with the sunflower oil and the salt into a smooth paste. Transfer to a piping bag. Crush the M&Ms and store in an airtight container.
Finishing touch
Dress the waffles on the plates and place the panna cotta ring on top. Fill the hole of the panna cotta with the peanut butter and decorate with the M&M crunch. Put another waffle on top and break it with a spoon.