The term ACCESSORY FOR MR. PEANUT is a 7 letter word, which is MONOCLE. A MONOCLE is a type of eyeglass, usually with a single round lens, that is held in place by the wearer's eye socket. It was popularized in the 19th century and was often associated with wealthy or upper-class men. Mr. Peanut, the mascot of the Planters snack food company, is often depicted wearing a MONOCLE, making it an appropriate accessory for him.