These allergies can range from mild symptoms such as hives and itching to more severe reactions like anaphylaxis, which can be life-threatening. In fact, peanut allergies are the leading cause of food-related anaphylaxis in children, making it crucial for parents to be aware of the potential dangers of giving their kids peanut butter. One of the most significant dangers of giving your kids peanut butter is the risk of an allergic reaction. Even a small amount of peanut butter can trigger a severe allergic response in children with peanut allergies, leading to symptoms such as difficulty breathing, swelling of the face and throat, and a drop in blood pressure.