Line a large baking sheet with wax or parchment paper and set aside.

In a large mixing bowl, mix together the peanut butter and softened butter. Add the powdered sugar and stir well to blend completely.

Add the cereal to a food processor and grind them slightly. Add the cereal to the peanut butter, butter and powdered sugar mix and mix until well incorporated. 

Cover and chill for 15 minutes in the fridge for easier handling.

Remove from refrigerator and roll into 2 inch balls. Place on lined baking sheet.

In a double boiler, melt the shortening. Add the chocolate chips and stir until melted and smooth.

Dip the peanut butter balls into the melted chocolate. You can either work from the double boiler pan or you can transfer the melted chocolate into a smaller bowl for easier handling. Place the chocolate coated peanut butter balls on the lined baking sheet.

If desired, sprinkle each peanut butter ball with holidays sprinkles before the chocolate hardens.

ENJOY!!