In a large mixing bowl, combine the softened cream cheese, creamy peanut butter, and vanilla extract. Using an electric mixer, beat the mixture until it’s smooth and creamy.
Gradually add the powdered sugar to the peanut butter mixture, mixing well until fully incorporated. Then, gently fold in the crushed pretzels and mini chocolate chips until evenly distributed.
Using your hands, scoop out a tablespoon of the mixture and roll it into a ball. Place the balls on a baking sheet lined with parchment paper. Continue until all the mixture is shaped into balls.
Once all the balls are formed, place the baking sheet in the refrigerator for about 30 minutes, or until they are firm enough to dip in chocolate.
In a microwave-safe bowl, melt the semi-sweet chocolate chips and chocolate candy coating. Heat in 30-second intervals, stirring between each until smooth.
Remove the chilled peanut butter balls from the refrigerator. Dip each ball into the melted chocolate, making sure it's fully coated. Use a fork to lift it out, allowing any excess chocolate to drip back into the bowl.
While the chocolate coating is still wet, sprinkle with your choice of toppings such as chocolate sprinkles, crushed peanuts, or crushed pretzels for added flavor and texture.
Place the chocolate-coated balls back on the parchment-lined baking sheet. Allow them to set at room temperature or in the refrigerator until the chocolate has hardened.
