Preheat oven to 350°.
In a medium bowl, combine flour, baking powder and baking soda set aside.
In a large mixer bowl at medium speed, beat sugar, brown sugar and butter until creamy. Add egg and vanilla. Beat until fluffy. At low speed, beat in flour mixture until blended. By hand, stir in peanuts and corn flakes until coated. Drop by rounded tablespoonfuls 3 inches apart on ungreased baking sheets. Insert a lollipop stick or wooden popsicle stick into each.
Bake for 10 to 12 minutes or until golden brown. Cool on baking sheets for 1 minute. Transfer cookies to wire racks to cool.
Store in an airtight container in a cool place. For a party, decorate either side of cookie if desired and tie ribbon on the sticks.
Note: Do not use plastic sticks. Cookies can be baked without the sticks for regular cookies.