In a bowl, add the peanut butter, butter, vanilla, and powdered sugar. Stir to combine.
Add in the milk and stir again. I like to use my hands for this step.
Make acorn shaped balls and place the balls on a parchment paper lined baking sheet. Chill in the freezer for 30-45 minutes.
In a small bowl, add the chocolate chips and coconut oil. Microwave at 30 second increments stirring until melted completely.
Coat each acorn ball in the melted chocolate using a fork to drip the excess melted chocolate off. Place back on the parchment paper and put back in the freezer for 10 minutes.
Dip the acorns tops in the melted chocolate and then into the chopped peanuts. Allow the chocolate to set for 1 minute before sticking half of a pretzel stick into the top of the acorn.