If using a stand mixer, fit with a paddle attachment.
Mix together butter, peanut butter, vanilla, and powdered sugar.
Chill mixture for at least on hour.
Once mixture is thoroughly chilled, roll peanut butter dough into roughly tablespoon sized balls.
Melt chocolate. If chocolate seems to thick, add a tablespoon of shortening or coconut oil.
Dip peanut butter balls into the chocolate and allow to dry on a piece of wax or parchment paper.
If desired, melt a small amount of another color chocolate (red, white, green) and stripe the tops of the peanut butter balls using a fork or pour the chocolate into a piping bag or Ziploc and snip the end off.
Enjoy! Peanut butter balls can be stored at room temperature for up to two weeks. You can freeze the peanut butter dough prior to dipping for up to a month.