In a large bowl, combine peanut butter, softened butter, powdered sugar, and vanilla until smooth.
Gently fold in crushed cornflakes, mixing well.
Form mixture into 1-inch balls and place them on a parchment-lined baking sheet. Chill for 30 minutes.
In a microwave-safe bowl, melt chocolate chips in 30-second intervals until smooth, adding vegetable oil if desired.
Dip each ball into melted chocolate, coating fully. Return to parchment-lined sheet.
Chill for another 15-20 minutes until chocolate is set. Enjoy! Store leftovers in the fridge.
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