Mix cream cheese, cocoa powder, vanilla and powdered sugar on medium high until fluffy.
Melt chocolate chips in the microwave at 50% power until almost melted (stirring every 30 seconds or so). Remove from microwave and continue stirring until smooth and melted.
Stir melted chocolate into cream cheese mixture until smooth. Cover and refrigerate at least 2 hours.
Shape truffles into 1" balls and roll in nuts, cocoa powder, coconut or dip in melted chocolate.
