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Step 1
Line a large baking sheet with parchment paper or a silicone baking mat. Set aside.
Step 2
With a handheld or stand mixer fitted with a paddle attachment, beat the butter on medium-high speed in a large bowl until creamy and smooth, about 2 minutes. Add the peanut butter and beat until combined, about 1 minute. Add the vanilla extract, salt, and confectioners’ sugar and beat on low for 2 minutes until everything is combined. The mixture is supposed to be a little soft, yet very crumbly. (Don’t worry, the warmth of your hands will bring it together.)
Step 3
Roll peanut butter dough into 1-inch balls (about 1 scant Tablespoon of dough each) and place on the baking sheet. Keep working and rolling the dough in your hands until the peanut butter balls come together. You should have about 32-35 balls total.
Step 4
Cover and chill the shaped peanut butter balls in the refrigerator for at least 1 hour and up to 1 day. During the last few minutes of the chilling time, begin melting the chocolate and oil together. You can melt it in a double boiler or the microwave. If using the microwave: place the chocolate and oil in a medium heat-proof bowl. I recommend using a liquid measuring cup because its depth makes dipping really easy. Melt in 20 second increments in the microwave, stirring after each increment until completely melted and smooth. Let the warm chocolate sit for 5 minutes to slightly cool before dipping.
Step 5
Remove peanut butter balls from the refrigerator. Working with 1 at a time, submerge into the chocolate, then carefully lift out using a fork or the spiral candy dipping tool. Tap the fork/tool gently on the side of the bowl/measuring cup to rid excess chocolate. If you used a fork, use a toothpick or a 2nd fork to help you slide the ball off of the fork and onto the baking sheet. If you used the dipping tool, just invert the ball onto the baking sheet. (See video tutorial above for how I do this.) If you have leftover chocolate, reheat it and drizzle on top of the truffles. Top with sprinkles, if desired.
Step 6
Refrigerate peanut butter balls for 30 minutes or until chocolate has completely set before serving.
Step 7
Store in an airtight container at room temperature for 2 days or in the refrigerator for up to 2 weeks.