In a large bowl, combine butter and peanut butter until smooth. Add in the powdered sugar until it is fully combined.
Fold in the sprinkles. Roll the dough into balls and set them onto plates. Place the 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.
Fully coat each peanut butter ball into the melted chocolate. Set back onto plates, and let sit until the chocolate has completely set.