Mr. Peanut was invented when Planters' wanted a new mascot and held a contest in Virginia, offering a prize to the person to submit the winning entry. A 14-year-old boy sent in a drawing of a peanut with arms and legs labelled "Mr. Peanut". He won $5. An artist at Planters' later added the cane, top hat, and monocle, creating the peanutty gentleman we've come to know and love over the last 70 years of scarfing down honey-roasted.

It sounds pretty stupid, but I guess the key point here is the caption to the drawing, which inspired the company to create a walking peanut character. I don't think just a drawing of an animate peanut would have cut it. The real loser here is the kid, I imagine, whose design is probably worth millions now.