Melt butter over medium-low heat, blend in flour, salt, and pepper. Stir and cook for about 2 minutes, or until smooth and bubbly. Gradually stir in milk while stirring constantly.
Continue cooking, stirring constantly, until mixture thickens and begins to bubble.
Add shrimp and cooked peas. Continue cooking, stirring, until heated through. Serve creamed shrimp over toast or rice. This dish is sometimes called Shrimp Wiggle.
Makes approximately 3 cups.