Combine peanut butter and butter together in a large mixing bowl and mix
until well combined.
Stir in vanilla extract.
Gradually add confectioners' sugar, 1/2 cup at a time until mixture is smooth
and you can easily form balls.
Stir in crispy rice cereal.
Shape into 1-inch balls and refrigerate for 30 minutes on a wax paper-lined
baking sheet or freeze for 20 minutes.
If using candy coating, melt following melting directions on package. If
using chocolate chips, in a microwave-safe bowl, melt chocolate on HIGH for
2 minutes. Melt in 30-second increments, stirring each time, until completely
Dip the peanut butter balls into the chocolate using a wooden pick.
Transfer to wax paper. Let candy stand until the chocolate is firm.