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In large bowl, beat peanut butter and softened butter with electric mixer on medium speed until blended. On low speed, gradually beat in powdered sugar until well blended. Knead in by hand if needed to blend.
Shape mixture into ball. Divide dough in half; shape into 2 (12-inch) logs. Cut each log into 6 (2-inch) rounds. Cover and refrigerate 30 minutes.
Place granola bars in gallon-size resealable food-storage plastic bag; crush using rolling pin. Place in shallow bowl; stir in chocolate chips.
Line cookie sheet or tray with cooking parchment paper. Microwave candy coating in small microwavable bowl uncovered on High 60 to 90 seconds; stir until melted and smooth.
Remove one-third of peanut butter rounds from refrigerator. Using 2 forks, dip and roll each in melted candy coating, allowing excess to drip off. Immediately place in granola coating; sprinkle to coat. Store covered in refrigerator.
Other toppings to consider sprinkling on the melted candy coating include: finely chopped Nature Valley™ peanut butter dark chocolate protein chewy bars, coarsely crushed graham crackers or crisp rice cereal with mini chocolate chips.
The melted candy coating sets up very quickly, and the granola coating needs to be added immediately, or it won’t stick to the candy coating.