Prepare rice according to package directions.
Add milk and sugar to cooked rice. Cook over medium heat, stirring occasionally, until thick and creamy about 20 minutes. Stir in peanut butter, vanilla and cinnamon.
Spoon rice pudding into dessert cups and chill. Top with bananas. Heat chocolate fudge sauce and pour over bananas. Sprinkle with peanuts and top with whipped cream.