Step 1: Heat water and sugar in a medium saucepan until sugar is dissolved.
Step 2: Add peanut butter to the syrup and stir until peanut butter is completely melted.
Step 3: Remove from heat, and stir in coconut milk. Chill for a couple hours or overnight in the refrigerator.
Step 4: Freeze in ice cream machine according to manufacturer's directions. Freeze 12-24 hours, or until ice cream is firm.
Step 5: If you want to add a fudge or jam swirl - working fast since the ice cream is soft, layer half of the ice cream in a container. Then add the jam/fudge on top of the ice cream, spreading as best you can and add the remaining ice cream as the final layer.
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