Bring sugar, syrup and water to a boil. Add butter & let boil on medium heat until it reaches 280 degress on a candy thermometer. Add the peanuts and stir contantly until it reaches 305 degrees. Remove from heat and quickly stir in 1 tsp. of baking soda. (It will foam up a bit). Spread on three buttered cookie sheets. Let cool and break into pieces. The whole process takes about an hour.