The purpose of this study was to examine the relationship between health-related quality of life, using the PedsQL™ 4.0, and peanut allergy in children. As part of a larger study, 51 parents completed a demographics questionnaire, a Pediatric Quality of Life Inventory™ (PedsQL 4.0), and a series of questions regarding their child’s peanut allergy. 48 child participants, ages 6 to 12, completed a PedsQL™ 4.0, and some specific questions regarding their peanut allergy. Parents of children with peanut allergy reported higher scores for their children for physical functioning (t (50) = 3.6, p < .001) and lower scores for emotional functioning (t (50) = −4.88, p < .001) compared to published norms for healthy controls. Further analysis, as explored in this paper, showed differences in functioning based on school placement. Children who were homeschooled reported lower physical functioning scores. These reports appear anomalous given that peanut allergy should not affect physical strength or stamina and may be tapping into another reason that these children are homeschooled. The anomalous results of the current study, in the area of physical functioning for children with peanut allergy, support the current trend of more disease-specific health-related quality of life measures for children.