Preheat a Belgian waffle maker.
Combine pancake mix and cinnamon in a small mixing bowl. Set aside.
Combine vanilla, eggs, water, milk, banana and butter in large mixing bowl.
Pour dry mixture into the wet ingredients and stir until just mixed. Batter will be slightly lumpy. Butter the waffle maker on both sides.
Pour batter by 1/2 cup into waffle maker and cook per manufacturer directions. Be sure to butter the waffle maker before cooking each waffle.
Top each waffle with peanut butter, syrup and banana slices.