Assemble your ingredients before you start. Place melted butter in a bowl and have a pastry brush for brushing it on the phyllo. Place peanut butter in a bowl and heat in the microwave about 30 seconds - 1 minute, until it is liquid. Open your bag of chocolate chips and place some in a bowl near your work surface (mix them with the nuts, if you are using nuts).
Preheat oven to 350 degrees. Thoroughly butter a 9x9” pan. Unwrap your roll of phyllo dough onto a cutting board and cut it in half, so it will fit in your pan. Cover the phyllo dough with a layer of plastic wrap and place a damp kitchen towel over the top.
Brush the top sheet of phyllo with melted butter. Grab it and the sheet below it (so you have two sheets) and place them, butter side down, in the pan. Repeat two more times, so you have 6 sheets of phyllo in the pan. Cover the phyllo with the plastic/damp towel.
Pour about 2-3 tablespoons of peanut butter over the top and spread. Sprinkle with chocolate chips.
Butter another phyllo sheet and grab the one below it (so you have two sheets) and place them, butter side down, on top the peanut butter layer. Pour about 2-3 tablespoons of peanut butter over the top and spread. Sprinkle with chocolate chips. Repeat this about 4 more times, or until you are out of peanut butter.
Butter another phyllo sheet and grab the one below it (so you have two sheets) and place them, butter side down, on top the peanut butter layer. Repeat this two times, so you have 6 layers on top of your last peanut butter layer. Butter the top of the baklava.
Using a sharp knife, cut your baklava into squares, being sure to cut all the way though all the layers. You can cut squares or diamonds, whatever you like.
Bake about 45 minutes, until the baklava is golden brown.
While the baklava is baking, heat the water, sugar, honey, and vanilla in a saucepan. Bring to a boil, then reduce heat to lowest setting until the baklava comes out of the oven.
When the baklava comes out of the oven, pour the honey mixture over the top, being sure to get it in all the cuts. Let cool completely, uncovered, for several hours.