In a large bowl with a mixer, beat softened butter with peanut butter and powdered sugar until a thick dough forms. Roll dough into bite-sized pieces, place onto a plate and refrigerate for at least 30 minutes.
Place chocolate chips in a microwave-safe bowl and heat in the microwave in 30-second intervals, stirring after each until fully melted and smooth.
Dip each peanut butter ball into the melted chocolate, set back onto plates. Decorate with candy eyes and chocolate chips for the mouth. Let chocolate set.
