Crush the Graham Crackers: Use a food processor to finely crush the graham crackers. Alternatively, place them in a zip-top bag and crush them with a rolling pin.
Mix the Crust Ingredients: In a mixing bowl, combine the graham cracker crumbs, granulated sugar, and melted butter. Stir until the mixture resembles wet sand.
Form the Crust: Press the graham cracker mixture evenly into the bottom and sides of a 9-inch pie dish. Use the back of a spoon or the bottom of a glass to press it firmly.
Chill the Crust: Place the crust in the refrigerator to set while you prepare the filling.
Cream the Peanut Butter and Cream Cheese: In a large mixing bowl, beat the peanut butter, powdered sugar, softened cream cheese, and vanilla extract together until smooth and creamy.
Whip the Cream: In a separate bowl, whip the heavy cream with ¼ cup of powdered sugar until stiff peaks form.
Fold in the Whipped Cream: Gently fold the whipped cream into the peanut butter mixture until well combined. Be careful not to deflate the whipped cream.
Fill the Crust: Pour the peanut butter filling into the prepared crust, spreading it out evenly with a spatula.
Chill the Pie: Cover the pie with plastic wrap or aluminum foil and refrigerate for at least 4 hours, or preferably overnight, to allow the pie to set.
Add Toppings: Before serving, you can top the pie with whipped cream, chocolate shavings, chopped peanuts, or a drizzle of chocolate or caramel sauce.
Slice and Serve: Use a sharp knife to cut the pie into slices, and enjoy!