Add peanut butter and butter to a medium sized sauce pan over medium heat. Once melted, remove from heat. Stir in vanilla and powdered sugar until well combined.

Form peanut butter into tablespoon sized balls. Place on baking sheet and place sheet in freezer for at least 20 minutes.

Place parchment or wax paper on a surface near stove.

In a double boiler over medium-high heat, melt chocolate and shortening. Stir until smooth.

Use toothpick to dip peanut butter balls in chocolate. Transfer dipped balls to parchment paper to dry. Let sit at room temperature for at least 1 hour before moving.