I find both the peanut lighter and the sparker a little difficult to use if my hands are very cold. Instead of the peanut lighter, I like an old fashioned Zippo lighter (of course, fuel it before each trip). The striker wheel is bigger and easier for cold hands than the peanut.
I haven't found anything I like better than PJ-Cotton balls. I add a few strips of inner tube. Once lit from the lighter... or from a sparked PJ-cotton ball... the rubber burns hot and long...when wet! As in when dropped in the snow.
That's why I recommended a Zippo

Because you can do this:
http://www.youtube.com/watch?v=P3_OnFDf6VMUseful trick if you have frozen or damaged hands.