Skewer the bananas with popsicle sticks. Whisk the egg and then whisk in the milk. Dip each banana in the egg then toss in the bread crumbs to coat. Repeat the process to create a second coating. Heat oil to 365 degrees and drop in the bananas, moving them around to brown evenly on all sides. Place on paper towels to drain.
Dipping Sauce: Scald milk in a medium saucepan and transfer to a bowl containing chopped chocolate, gently stirring until chocolate is completely melted. Add vanilla and whisk in peanut butter until smooth.
Dust the banana fritters with confectioners' sugar. Drizzle chocolate peanut butter sauce over bananas or use as a dipping sauce.