Prepare the sandwiches: Spread creamy peanut butter evenly on one side of two bread slices. Top each with another slice of bread to form two sandwiches.
Make the batter: In a shallow dish or bowl, whisk together the large eggs, evaporated milk, and granulated sugar until well combined and smooth.
Heat the oil: In a deep pot or wok, heat vegetable oil over medium-high heat until it reaches 170-180°C (340-350°F). If you don't have a thermometer, a small piece of bread dropped in should sizzle immediately.
Dip the bread: Carefully dip one prepared sandwich into the egg batter, ensuring both sides and all edges are thoroughly coated. Allow any excess batter to drip off. Do not soak the bread for too long, or it will become soggy.
Deep fry: Gently lower the coated sandwich into the hot oil. Fry for about 2-3 minutes per side, or until golden brown and crispy. Flip carefully to ensure even cooking. If frying the second sandwich, ensure oil temperature is maintained.
Drain and serve: Remove the French toast from the oil and place it on a wire rack lined with paper towels to drain excess oil. Immediately top with unsalted butter. Drizzle generously with golden syrup or condensed milk before serving hot.
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