In a large mixing bowl, combine 1 cup of creamy peanut butter with 2 tablespoons of softened unsalted butter. Blend until smooth and creamy, about 2 minutes.

Add in 1 tablespoon of vanilla extract. Gradually sift in 1/2 cup of powdered sugar while continuing to mix until thick and creamy, approximately 2-3 minutes.

Gently fold in 3 1/2 cups of crispy rice cereal until evenly coated, which will take about 1-2 minutes.

Using a cookie scoop, roll the mixture into 1-inch balls and place on a parchment-lined baking sheet. Chill in the freezer for 20 minutes.

Melt 9 ounces of chocolate chips using a double boiler or microwave, stirring frequently. If too thick, add a little oil.

Dip each chilled ball into the melted chocolate, allowing excess chocolate to drip off, and return to the parchment-lined baking sheet.

Let the dipped balls sit at room temperature or refrigerate for 15-20 minutes until the chocolate sets.