In a large bowl, using an electric hand mixer, beat butter, peanut butter, and confectioners' sugar until well combined.
Roll dough into 1-inch balls and freeze them for 20 minutes or until firm.
Place chocolate in a double boiler, over simmering (not boiling) water, stirring occasionally, until chocolate is melted and smooth.
Use a tooth pick to dip the balls in chocolate, swirl and removed excess chocolate. Place candies on a cookie sheet lined with parchment paper. Remove tooth pick and smooth over the hole with your finger.