Line a cookie sheet with parchment paper or wax paper and set aside.
In a medium mixing bowl, combine the powdered sugar, softened butter, and creamy peanut butter using a stand or hand mixer until well blended.
Using a small cookie scoop, portion out the dough and roll into one-inch balls. Place the balls on the prepared cookie sheet lined with waxed paper. Refrigerate or freeze for 30 minutes or until firm.
In a microwave-safe bowl, combine the white chocolate chips and canola oil. Microwave the mixture in 30-second intervals, stirring between each heating, until the chocolate is melted and smooth.
Dip each chilled peanut butter ball into the melted white chocolate, coating it completely. Place the coated balls back on the parchment-lined baking sheets to harden.
Optional: Sprinkle chopped peanuts, Christmas sprinkles, or other decorative sprinkles over the chocolate-coated balls before they harden completely.
Refrigerate the Peanut Butter Snowballs in an airtight container until you’re ready to serve. Enjoy these delicious treats!