In a small bowl, beat the butter and peanut butter until smooth. Beat in vanilla. Gradually add confectioners' sugar and mix well. Cover and refrigerate for at least 1 hour.
Pat cherries dry with paper towel. Dust hands with additional confectioners' sugar. Wrap each cherry with a rounded tablespoon full of peanut butter mixture; shape into a ball. (Peanut butter mixture may need to be refrigerated occasionally while rolling cherries.) Cover and refrigerate for at least 1 hour.
In microwave, melt chocolate chips and shortening; stir until smooth. Dip peanut butter balls in chocolate; allow excess to drip off. Place on waxed paper. Refrigerate for at least 1 hour or until set. Yields: 2 dozen
Note from the Editor on Taste of Home: Reduced-fat or generic brands of peanut butter are not recommended for this recipe.
Tip from Lynn: These make such a beautiful presentation..the picture is so yummy to look at on the website. I would also suggest if you would like, try adding a drizzle of melted white chocolate on the top of the balls.., you could even do a red drizzle..add oil based food coloring, by Wilton, to the melted white chocolate, even green..use your imagination.