Place jelly in a small pan.

Place pan over medium-high heat to melt jelly.

While jelly is melting, place cornstarch and water in a small bowl. Stir to dissolve.

When jelly becomes liquid, add cornstarch mixture. Stir to combine.

Simmer until the mixture reaches a syrup consistency, about 5 to 10 minutes.

Remove from heat and set aside.

If making ahead of time, store in a tightly sealed container, in the refrigerator, until ready to serve. Warm before serving, if desired.

Place milk in a small pan.

Place pan over low heat.

When milk is warmed, slowly whisk in the peanut butter until the mixture is completely smooth. Remove from the heat.

Add baking mix to a large bowl.

Stir in the eggs and milk/peanut butter mixture. Mix until all ingredients are incorporated. Do not over-mix.

Spray a large skillet with cooking spray.

Set skillet over medium-high heat.

When hot, pour about 1/4 cup pancake batter in the center of the skillet. Cook until golden brown, then flip and cook on the other side. Cook about 1 to 2 minutes per side.

Transfer cooked pancake to a serving platter or plate and continue until all pancakes are cooked.

Serve with prepared Jelly Syrup.