I found this something similar to this in Woman's Day Magazine and tried it out on a Daddy-out-of-town-night. It was definitely a hit with the kids. I enjoyed it too with the ooey melted peanut butter! Plus, no syrup is needed!
Spread peanut butter and jelly on one slice of bread, fold in half.
Now make just as you would regular French toast (dipping in egg/milk mixture and cooking on griddle). Sprinkle with powdered sugar. Enjoy!