Melt butter and peanut butter together in a microwave or double boiler.

In a large bowl, sift powdered sugar over Rice Krispies.

Mix the powdered sugar and Rice Krispies together.

Add the melted butter and peanut butter mixture to the powdered sugar and Rice Krispies mixture.

Mix all ingredients well until fully combined.

Roll the mixture into small, bite-sized balls.

Insert a toothpick into each ball.

Place the peanut butter balls on a baking sheet lined with parchment paper.

Freeze the peanut butter balls overnight or for at least 4 hours.

Melt chocolate chips and paraffin wax together in a double boiler or microwave until smooth.

Remove the frozen peanut butter balls from the freezer.

Dip each frozen ball into the melted chocolate, ensuring it is fully coated.

Place the chocolate-covered peanut butter balls back on the parchment-lined baking sheet.

Remove the toothpicks before the chocolate sets.

Let the chocolate set completely.

Serve and enjoy!