Melt the butter and peanut butter together in a bowl, or pan, I use the microwave. Then pour over the powdered sugar in a large oversized bowl. Mix well with your hands; be sure not to burn yourself, but mix all the way to the bottom of the bowl. Once mixed, it should resemble a playdough, but not as pliable.
Roll dough into small balls, about 1" balls, and place on wax paper on cookie sheets, place toothpicks into the balls, but not all the way through them, then chill the balls.
Melt chocolate chips and wax together in a double boiler, until it is like chocolate syrup. Dip each ball 3/4 of the way up and replace on cookie sheet. Chill again, then enjoy.