In a bowl, combine peanut butter and banana, mashing the banana coarsely into the mixture; don't mix it till it's smooth, you want some texture from the banana.
Spread two slices of bread with the mixture, dividing evenly. Sprinkle with chopped salted peanuts, if desired. Top with the other bread slices to make two sandwiches. Cut each in half diagonally.
Dip each half sandwich into the pancake batter, letting excess drip off. Fry each sandwich in hot oil (325 F) till golden brown, about 4 minutes total, turning if necessary. Drain on paper towels and cool slightly.
Meanwhile, prepare dipping sauce e by combining the pudding, icing and jam, stirring till smooth. Dust the sandwiches with powdered sugar and serve with a small cup of the dipping sauce.