In a mixing bowl, blend together the peanut butter, butter, and vanilla until smooth.

Add in the powdered sugar, and blend until well combined.

Form the dough into 30+ evenly sized balls.

Melt the chocolate in the microwave until smooth and creamy, for 30 seconds intervals.

Place a toothpick in the balls, and dip them in the chocolate. Allow them to harden and set on a parchment-lined baking sheet.

Serve once the chocolate has hardened.