Preheat oven to 350°. Cut each biscuit into 4 pieces. Place in a greased 13×9-in. baking pan.
In a large bowl, combine chicken, mushrooms and 1 cup peanut sauce; spread over biscuits. Top with 1 cup cheese, red pepper, carrot and green onion. Sprinkle with remaining 1 cup cheese.
Bake until topping is set, cheese is melted and biscuits have cooked all the way through, about 40 minutes. Sprinkle with peanuts and serve with remaining peanut sauce.
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