MICROWAVE snow peas in microwaveable bowl on HIGH 2 min. or just until crisp-tender. Immediately rinse under cold water. Drain.
MEANWHILE, beat peanut butter, water, soy sauce and oil with wire whisk until well blended.
WRAP 1 snow pea around each shrimp; secure with wooden toothpick. Serve as dippers with the peanut sauce.
