In a small saucepan over medium heat, add brown sugar and butter. Whisk until completely combined and butter is melted. Bring to a boil, remove from heat. Whisk in the peanut butter and vanilla extract. Set aside to cool.
In a large mixing bowl, beat cream cheese with powdered sugar until creamy (about 3-4 minutes. On low, add in brown sugar mixture (that has cooled to near room temp). Mix until combined. Fold in mini chocolate chips and mini Reese's cups.
Serve immediately or store in refrigerator until ready to serve. Enjoy with pretzels, animal cracker and graham sticks.