Crisp bacon in large heavy skillet over medium-high heat. Remove bacon from skillet with slotted spoon and drain on paper towels. Discard all but 2 teaspoons of bacon fat. Add onions and saute until tender, about 5 minutes. Stir in water, vinegar and maple syrup. Bring to simmer, reduce heat to medium-low and stir in bananas and all but 1 tablespoon of crisp bacon. Continue to simmer, stirring often, until thickened, about 20 minutes. Season with salt and pepper, to taste. Remove from heat and let cool.
Cook your hot dogs your favorite way. We suggest pan-fried with butter!
To serve, spread banana bacon jam on each bun and add hot dog. Drizzle with warmed peanut butter and sprinkle with reserved bacon and roasted peanuts.