In a large mixing bowl, combine butter with peanut butter, and powdered sugar until a thick dough forms.
Place the peanut butter dough onto half of the pretzels, and sandwich with the remaining half. Set onto plates. Refrigerate for at least 20 minutes.
Place the chocolate chips into a microwave-safe bowl, and heat in the microwave in 30-second intervals, stirring until it is fully melted and smooth.
Place the sprinkles in a shallow dish. Dip half of the pretzel sandwiches into the melted chocolate, and coat in the sprinkles. Set back onto plates and refrigerate for another 20 minutes.
