The settlement is located on the south edge of the Mulberry River floodplain at the confluence with Clear Creek and approximately one-half mile from the Franklin-Johnson county line. The community is within the Ozark–St. Francis National Forest.[2]Ozark lies approximately thirteen miles to the south-southwest. Arkansas Highway 215 passes on the north side of the river floodplain.[3]
Prior to 1945, the settlement was called "Taft", and Taft at one time had a post office.[4]
In 1975, there was one house located in Peanut.[4]