ooo, nice work Zaydos. I made you something though i'm not particularly good at homebrew stuff. Let me know if you think it needs adjustments. Also I kinda guesstimated the price a little because it doesn't firmly fit into the custom item price system.
Living Peanut Statue
Price: 75,000 gp
Body Slot: - (held)
Caster Level: 17th
Aura: Strong; (DC 23) conjuration, transmutation
Activation: (use) and standard (command word)
This small Peanut Dragon statuette appears to be made out of actual peanuts.
This item begins each day with 6 charges. As a standard action the user can use a charge to cast Entangle as the spell, save DC 15, caster level 17. As a standard action the user can throw the statue on the ground and speak the command word and it will turn into a Peanut Dragon for 2 minutes. Treat this Peanut Dragon as a summoned creature. If the peanut dragon is killed or dispelled, it turns back into a statue. If the peanut dragon enters an anti-magic field it turns back into a statue; if the statue leaves the anti-magic field before the duration of its transformation has ended, it turns back into a peanut dragon. The age category of the peanut dragon depends on the number of charges used.
1 charge: wyrmling
2 charges: very young
3 charges: young
4 charges: juvenile
5 charges: young adult
6 charges: adult
Prerequisites: Craft Wondrous Item, Summon Nature's Ally IX, Entangle
Cost to create: 37,500 gp, 3000 xp