In a mixing bowl, combine the creamy peanut butter, softened unsalted butter, kosher salt, vanilla extract, and powdered sugar. Use a rubber spatula or wooden spoon to mix until everything is well combined and forms a smooth dough.
Using your hands, scoop out small portions of the mixture and roll them into balls, about 1 inch in diameter. Place them on a baking sheet lined with parchment paper, ensuring they are spaced apart.
Place the baking sheet with the peanut butter balls in the freezer for about 30 minutes. This will help them firm up and make dipping in chocolate easier.
While the balls are chilling, melt the semi-sweet chocolate chips and canola oil together. You can do this in a double boiler or microwave. If using a microwave, heat in 20-30 second intervals, stirring in between until smooth.
Once the peanut butter balls are firm, remove them from the freezer. Using a fork, dip each ball into the melted chocolate, ensuring it’s fully coated. Allow any excess chocolate to drip off before placing them back on the parchment-lined baking sheet.
If desired, drizzle melted white chocolate over the coated peanut butter balls or sprinkle them with colorful sprinkles for a festive touch.
Let the chocolate coating set at room temperature, or place them in the fridge for quicker results. Once set, your Peanut Butter Balls are ready to enjoy!