In a large bowl, mix butter with sugar and vanilla until a thick dough forms. Divide the mixture into three bowls, make one red and one blue with food coloring.
Take a small amount from each bowl and roll together into balls. Place onto a plate and freeze for at least 20 minutes. 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. Let sit until it is completely set.
