Place flour into a microwave-safe bowl, and heat in the microwave for 40 seconds. In a large bowl, mix butter with peanut butter and sugar until fluffy.
Add in the vanilla extract until smooth. Add in the flour and oats until a thick dough forms. Fold in the chocolate chips and M&Ms. Roll the dough into ovals and place onto a plate.
Place chocolate chips into a microwave-safe bowl and heat in the microwave in 30-second intervals, stirring well until it is fully melted and smooth. Coat each truffle in the chocolate and set onto a plate. Decorate with the icing and let sit until it is completely set.
