POUR milk into medium bowl. Add dry pudding mix. Beat with wire whisk 2 min. or until well blended. (Mixture will be thick.)
ADD peanut butter; beat until well blended. Gently stir in whipped topping.
USE to frost your favorite cake or cupcake recipe. Store frosted cake and any leftover frosting in refrigerator. KRAFT KITCHENS TIPS
Makes enough frosting to frost tops and sides of two 8- or 9-inch layers, top and sides of 13x9-inch cake, tops of three 8- or 9-inch layers or tops of 24 cupcakes.
For chocolate-peanut butter frosting, prepare as directed using JELL-O Chocolate Flavor Instant Pudding & Pie Filling.
RECIPE COURTESY OF KRAFT FOODS