Line two baking sheets with parchment or waxed paper.
Place chocolate morsels and peanut butter in large double boiler over simmering water. Stir until the morsels melt and the mixture is smooth.
Add Chow Mein noodles and peanuts. Stir until the noodles and peanuts are well coated.
Drop by rounded tablespoonfuls onto the prepared baking sheets. Clusters will firm up as they cool OR cool in the refrigerator for 10 minutes until firm. Store leftovers in refrigerator in an airtight container.