Preheat the oven to 350°F. In a large bowl, combine the creamy and crunchy peanut butters, banana, egg, honey, and water. Beat the mixture until smooth.
Add the baking powder and two cups of flour to the mixture. Stir until a thick, sticky dough forms. Use your hands to knead the dough, adding more flour as needed until a firm, smooth dough forms. If the dough is too sticky, add more flour. Alternatively, if the dough is too dry, add more water as needed.
Flatten the dough and use a rolling pin to roll it out to about half an inch thick. Use a bone-shaped cookie cutter to form the cookies.
Arrange the cookies on a baking sheet, spacing them about half an inch to an inch apart. Bake for 10-15 minutes or until the cookies have puffed up and turned golden brown.
Let the treats cool completely before serving them to your pup. Now - Sit! Good dog.