Combine the peanut butter, butter, and vanilla extract in a large mixing bowl. Using a hand mixer, beat until well combined.
Beat in the powdered sugar and graham cracker crumbs.
Cover with saran wrap and place in the refrigerator for 30 minutes.
Remove from the refrigerator and scoop small Tablespoon size portions and roll into balls.
Repeat until all the dough has been made into balls.
Cover with seran wrap and place into the freezer for 1 hour or overnight.
Place the melting chocolate in a microwave safe bowl and place in the microwave for 30 seconds, remove and stir if needed, repeat until the chocolate is melted and smooth.
Place a cooling rack on a cookie sheet, or line wax paper.
Use a fork and carefully dip each peanut butter ball into the melted chocolate, working quickly so the balls don't get too soft. Place onto parchment paper.
Sprinkle with the sprinkles as you go along so the chocolate doesn't harden.
Let harden before serving.