In a very large (12-inch) skillet, combine the oil, chiles and garlic. Set over medium heat and stir until the garlic softens and the chiles are toasty smelling, about 3 minutes.
Add the peanuts, lower the heat to medium-low, and stir nearly constantly until the peanuts are richly aromatic, about 10 minutes.
Sprinkle generously with salt (usually about ½ teaspoon). Cool and set out for your guests to enjoy.