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Whisk together the cream, milk and sugar in a medium mixing bowl.
Slowly mix in the peanut butter using a handheld electric mixer until smooth, about 2 minutes.
Taste the mixture and, depending on the variety of peanut butter, add up to 1 teaspoon of vanilla. Chill the mixture in the refrigerator for about 90 minutes.
Transfer the mixture to an ice cream maker and process according to the manufacturer's instructions. Transfer the ice cream to an airtight container and freeze for 1 to 2 hours before serving.