Cream together the butter, peanut butter, powdered sugar and vanilla until smooth...
Roll into 1 inch balls ( a melon ball scooper comes in handy here) and place on a wax paper lined tray cover with plastic and refrigerate at least 1 hour.
In a small non stick pan over low to med. low heat melt together the chips and the paraffin (shaved..use vegetable peeler to shave it) stir constantly...when the chocolate mixture is smooth, remove the balls from the frig and using a toothpick one at a time dip the balls into the chocolate 3/4 of the way up and leave the top of the ball exposed to resemble a buckeye. Place back on the wax paper...after finished dipping all of the balls cover with plastic wrap and refrigerate again until the chocolate i hardened...it won;t take long...ENJOY...KEEP REFRIGERATED UNTIL SERVING! You won't be able to keep the kids out of them and YOU too!