In medium bowl blend together using a hand mixer butter, peanut butter, and powdered sugar. (blend powdered sugar 1/3 cup at a time).
Using a 1 inch scoop or 1 TBS measure out peanut butter balls and roll tightly. Place on a parchment or wax paper lined baking sheet or platter. Add toothpicks to each peanut butter ball.
Place tray into refrigerator for one hour or freezer for half an hour to chill.
Melt chocolate chips in microwave safe bowl in your microwave for 30 second increments until chips are melted. You can also do this with a double boiler.
Remove peanut butter balls from refrigerator/freezer and immediately start dipping each one holding the toothpick to help dip partially covering the peanut butter.
If adding sprinkles, do that step now.
Place peanut butter balls covered in chocolate back on sheet pan and place in refrigerator or freezer for 15-20 minutes.
Remove from refrigerator or freezer and take toothpicks out. Enjoy.