Using a mixer, beat together the peanut butter and butter until smooth, about 1 minute.
Add the vanilla and sugar. Beat together for 1 minute until the sugar is completely mixed in.
On a cookie sheet, lay down 16 crackers.
Scoop a slightly heaping tablespoon of peanut butter mixture and form it into a small rectangle, the size of the cracker. Put the peanut butter mixture on top of the cracker and repeat with each cracker until the peanut butter is gone.
Place the remaining crackers on top of the peanut butter and press gently to make sandwiches.
If desired, push a lollipop stick about 1 1/2 inches into the peanut butter middle in order to make a lollipop. This makes it easy to dip in chocolate and kids love it. You can also just leave the sandwiches as is.
Place the cookie sheet in the freezer while you melt the chocolate.
Place 1 inch of water in the bottom pan of a double boiler. Place it on the stove over low heat.
Place the chocolate into the top of the double boiler and allow the chocolate to melt, stirring gently. If the chocolate is too thick, you can add a 1" cube of paraffin wax or 1-2 tablespoons of shortening. This will thin the chocolate and make it easier to dip the sandwiches.
Once the chocolate is melted, remove the cracker sandwiches from the freezer.
If you're making lollipops, pour the melted chocolate into a glass that is about 5" tall. Holding on to the lollipop stick, dip the cracker sandwich completely into the chocolate and turn to coat. Remove the sandwich from the chocolate and allow the excess chocolate to drip into the cup. Place the lollipop on a cookie sheet that has been lined with wax paper. Immediately press a PEEPS® Holiday Christmas tree or snowman on top of the wet chocolate. Repeat with remaining sandwiches.
If you're not making lollipops, keep the melted chocolate in the double boiler. Place a sandwich onto the tins of a fork and lower it into the chocolate, turning to coat. Using the fork, pull the sandwich out of the chocolate once it is completely covered. Tap the fork on the side of the pan to allow excess chocolate to drip off. Place the chocolate covered sandwich on a cookie sheet lined with wax paper and immediately press a PEEPS® Holiday Christmas tree or snowman into it. Repeat with remaining sandwiches.
Allow the chocolate to set completely. To speed this process up, you can place the cookie sheet into the refrigerator.
Store the chocolate peanut butter marshmallow sandwiches in an airtight container in a cool place.
The calories shown are based on the recipe making 16 chocolate dipped sandwiches, with 1 serving being 1 sandwich. Since different brands of ingredients have different nutritional information, the calories shown are just an estimate.