Line a large tray or baking sheet with wax paper.

In a large bowl, combine the confectioners' sugar, peanut butter,vanilla extract and butter, stirring until well blended.

Roll the peanut butter mixture into 1-inch balls, and place the balls on a wax paper-lined baking sheet.

Press a toothpick into the top of each ball (to be used later as the handle for dipping) and chill in freezer until firm, about 30 minutes.

Melt chocolate chips in microwave (about 1 minute).

Using the toothpick as a handle, dip each peanut butter ball in chocolate.

Leave a small portion of peanut butter showing at the top to make them look like Buckeyes.

Place chocolate covered peanut butter balls on wax paper and remove the toothpick.

Once the peanut butter has softened, you can use a finger to smooth over the hole from the toothpick.

Refrigerate, until chocolate is set. Store in refrigerator until eating or gifting.