In a large mixing bowl, thoroughly combine the peanut butter, softened butter, vanilla extract, Rice Krispies cereal, chopped pecans, and grated coconut. Once the mixture is well blended, refrigerate for 30 minutes to allow it to firm up.
After chilling, remove the mixture from the refrigerator and shape it into small, bite-sized balls. Return the shaped balls to the refrigerator and let them chill for at least one hour to ensure they hold their shape.
Meanwhile, prepare the chocolate coating. In a double boiler, gently melt one bag of chocolate chips along with a piece of sweet chocolate. Keep the heat low to maintain the chocolate’s smooth, velvety texture.
Once the chocolate is ready, take the chilled balls out of the refrigerator. Using a fork, dip each ball into the chocolate mixture, ensuring it is completely coated. Place the chocolate-covered balls on a sheet of parchment paper and return them to the refrigerator to set.
Allow the Chocolate Rice Krispie Balls to cool until the chocolate is fully hardened.