Heat a large skillet over medium to medium-high heat.
In a large mixing bowl, whisk together the flour, sugar, baking powder, baking soda, and salt.
Add in the egg and milk. Whisk to combine. The batter should be evenly moistened and on the thin side.
Add in your peanut butter. Whisk until combined and smooth. (It'll take a minute.)
Butter your skillet (or coat it with some non-stick cooking spray) and portion the pancake batter into the pan. Cook for 2 to 3 minutes, or until a couple bubbles form around the edges.Flip the pancakes and cook for another 1 to 2 minutes, or until both sides are golden brown.
Transfer to cooked pancakes to a plate and repeat with the remaining batter.
Heat a medium saucepan over medium-high heat.
Add the jelly, cornstarch, and water. Once the ingredients have had a few minutes to heat up, whisk them all together until combine. Continue to cook until the syrup begins to bubble.
Reduce the heat to medium-low and keep warm until the pancakes are done.
Plate your pancakes. If desired, spread the top pancake with some melted peanut butter.
Pour some the jelly syrup over your pancakes. Sprinkle with peanut butter chips if you'd like.
To melt the peanut butter, place 1/4 to 1/2 cup peanut butter in a microwave safe bowl and heat it for 20 to 30 seconds until smooth and viscous. If the peanut butter cools down too much it won't be as runny. Just heat it up a little more, as needed.