water in oil? how

i think i may have water in my oil, when i took the cap off the oil resembled peanut butter. i'm not quite sure what's causing this but i just bought the car a week ago so i'm hoping it's nothing too costly...a friend thought it might be the pcv valve, any thoughts, suggestions?
the car is a 98 jetta gt with a 2.0L engine, it has 76K

If it is on the underside of the oil fill cap, then it is just condensation and nothing to worry about. Pull out the dip stick and see if that looks wrong. If there is "milk" on the dipstick then you have a problem, that meens your head gasket is blown. REPLACE NOW!!! (have you lost power?) also check in the coolant tank. if there is water in your oil, then there is oil in your water/coolant. So the coolant tank will look milky. That is bad. Like I said though, if it is just "peanut butter" under the cap and nowhere else, then it is alllllllll good.

true dat