Soak the peanuts for 30-minutes. Drain the water completely.
Add the peanuts and oil to a pan. Heat the pan on a medium flame and fry the peanuts till golden brown and evenly colored. This may take about 12-14 minutes. Drain in a paper towel.
Transfer the rest of the oil leaving just one teaspoon. Add the Sichuan peppercorns and whole dried Sichuan peppers. Fry for 30 seconds to a minute. Add the peanuts. Switch off the flame. Add the salt, sugar, Chinese five spice powder, white pepper powder, and powdered Sichuan peppercorn. Mix thoroughly.
Store in a airtight container. Serve as such or with a drink.