Prepare the Crust: In a medium bowl, combine the graham cracker crumbs, sugar, and melted butter. Stir until the mixture is evenly moistened. Press the mixture into the bottom of a 9-inch pie dish, creating an even layer. Bake the crust in a preheated oven at 350°F (175°C) for 8 minutes, then remove and let it cool completely.

Prepare the Filling: In a separate bowl, beat together the softened cream cheese and peanut butter until smooth and creamy. Add the powdered sugar and vanilla extract, and continue to beat until fully incorporated.

Fold in the Whipped Topping: Gently fold the whipped topping into the peanut butter mixture, mixing just until combined. Be careful not to deflate the whipped topping, as this will keep the filling light and airy.

Assemble the Pie: Spread the peanut butter filling evenly over the cooled graham cracker crust. Use a spatula to smooth the top and ensure it’s level.

Freeze the Pie: Place the pie in the freezer and let it chill for at least 4 hours, or preferably overnight. This ensures that the filling sets properly and the pie holds its shape.

Serve: Once the pie is fully frozen and set, slice it into wedges and serve cold. For added flair, top the pie with melted chocolate, chopped peanuts, or a drizzle of caramel.