Preheat the oven to 350 degrees F.
Place the jelly in a plastic squirt bottle. Heat a small pan of water on the stove. Water should be hot, but not boiling. Place the squirt bottle in the water.
In a large bowl, combine the eggs, granulated sugar, vanilla extract, and salt and whisk to dissolve the sugar. Add the half-and-half and whisk to combine. Place the cereal on a large plate or in a shallow baking dish.
Place 4 slices of bread on a work surface and spread each with 2 teaspoons of the peanut butter, and a layer of banana slices. Top with the bacon and the remaining bread to form a sandwich and press to tightly close. Place 1 sandwich in the bowl with the batter and let sit until well moistened, about 2 minutes, turning to coat both sides. Place in the dish with the cereal, turning to coat on both sides and pressing to adhere.
Heat a large skillet over medium-high heat until hot, 4 minutes. Add 1 tablespoon of the butter. Dredge each stuffed and soaked sandwich in rice cereal and add to the pan. Cook undisturbed until golden brown and crusted on the bottom, about 2 to 3 minutes. Flip and cook until the second side is golden brown, about 2 to 3 minutes. Place on a baking sheet and bake until cooked through, about 6 to 8 minutes.
To serve, place 1 stuffed French toast on each of 4 plates. Sprinkle lightly with confectioners' sugar and top each serving with chopped peanuts and banana slices. Squirt the strawberry jelly over the French toast. Serve immediately.
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