**Prepare the Mixture:** In a large mixing bowl, combine the peanut butter, softened butter, and powdered sugar. Stir until smooth and well combined.

**Add the Rice Krispies:** Gently fold in the Rice Krispies cereal, ensuring the cereal is evenly coated without crushing it.

**Form the Balls:** Roll the mixture into 1-inch balls and place them on a baking sheet lined with parchment paper. Freeze for 20-30 minutes to firm up.

**Melt the Chocolate:** In a microwave-safe bowl, melt the chocolate chips with the vegetable oil in 20-second intervals, stirring in between until smooth. Alternatively, use a double boiler.

**Dip the Balls:** Using a fork or dipping tool, dip each peanut butter ball into the melted chocolate, ensuring it's fully coated. Allow excess chocolate to drip off before placing it back on the parchment-lined baking sheet.

**Set the Chocolate:** Let the chocolate-coated balls set at room temperature or refrigerate them for about 15 minutes until the chocolate is firm.

**Serve:** Enjoy these delightful treats right away or store them for later!