I bought myself some hairspray last week and found myself looking at the label of that too. And I was shocked by what I found!
No. No peanuts or peanut oil in hairspray.
It's not unusual to find nut oils in beauty products. But I did find wheat!
In John Frieda Frizz-Ease Moisture Barrier Hairspray, the ingredients are:
"Alcohol Denat., Hydrofluorocarbon 152A, Octylacrylamide/Acrylates/Butylaminoethyl/Methacrylate Copolymer, Aminomethyl Propanol, Triethyl Citrate, Pentaerythrityl Tetracaprylate/Tetracaprate, Quaternium 52, PEG/PPG 20/15 Dimethicone, AMP Isostearoyl Hydrolyzed Wheat Protein, Ethylhexyl Methoxycinnamate, Fragrance"
Now, we don't have a wheat allergy in our house, but I would feel awful if we did and I was spraying this into the air!
Just goes to show that label reading is important, no matter what the product.