To make a peanut butter cream cheese pie, beat together 4 ounces softened cream cheese and 1 cup powdered sugar. Mix in 1/3 cup peanut butter and 1/2 cup milk. Fold in 8 ounces whipped topping. Spread this in a 9-ounce graham cracker crust, and chill for two hours.
For a chocolate variation, crush 25 chocolate sandwich cookies into fine crumbs. Pour 4 tablespoons melted butter over the crumbs, and stir them with a fork. Press the crumbs into a pie pan, and bake them at 350 degrees Fahrenheit for five to seven minutes to create a crust. To make the filling, mix 1 cup creamy peanut butter with 8 ounces softened cream cheese. When the mixture is smooth, add 1 1/4 cups powdered sugar. Fold in 8 ounces whipped topping, and beat until everything is smooth. Pour the filling into the crust, and chill the pie for at least an hour.
To make a layered version, combine 1 cup creamy peanut butter, 8 ounces softened cream cheese and 1/2 cup sugar. Mix in 3 cups whipped topping. Spoon the mixture into a chocolate pie crust. Set aside 2 tablespoons of hot fudge, and microwave the remainder of a jar of it for one minute. Spread it over the pie, and refrigerate it until it sets. Spread 1 1/2 cups whipped topping over the fudge. Drizzle the pie with melted hot fudge and peanut butter.