Determine the type of foam peanut you have. A biodegradable foam peanut will dissolve quickly in water. A polystyrene peanut will not dissolve. Fill a large trashcan approximately half-full of water (using a garden hose) and pour the foam peanuts into the water. The biodegradable peanuts will dissolve in the water. The polystyrene peanuts will float. Scoop the floating peanuts out of the water and transfer them to another container or a trash bag.
Call your local municipality and ask how you should dispose of the polystyrene peanuts. Some municipalities will accept them bagged with your regular trash. Other municipalities will accept them bagged with your recyclable items. Ask about local businesses that will accept the peanuts, and ask about recycling centers that will accept the peanuts if the local trash collectors will not take them.
Put the polystyrene peanuts in a standard trash bag if you will be disposing of them with your regular trash or if you will be taking them to a business. Use a recycling bag if you will be recycling the peanuts curbside or if you will be taking them to a recycling center. Seal the bag tightly.
Place the bag curbside with your trash or with your recyclables for pickup, if applicable. Or, take the bag to a business that accepts them or to a recycling center.