IN a large bowl, stir together the confectioner's sugar and graham cracker crumbs. Add the butter and peanut butter and work with a wooden spoon or with your hands until thoroughly combined. POrtion the dough into 60 1-inch balls and place them on parchment-lined roll pans.
Combine the chocolate and vegetable oil in a medium heat-proof bowl. PLace the bowl over a medium saucepan filled with simmering water and slowly melt the chocolate, stirring occasionally. When the chocolate is melted, remove it from the heat, but keep the bowl over the pot of water. Place about 1/2 cup o the chopped peanuts in a low flat dish, such as a pie plate.
Using a chocolate dipping fork, or a 2 prong fork, dip one ball at a time into the melted chocolate. Tap the fork gently on the side of the bowl to help drain the chocolate from the cookie. The coating should be thin. ROll the dipped cookie in the chopped peanuts, and coat it evenly. Remove the cookie with a 2 prong fork and place it back on the jelly roll pan to set. Repeat with the remaining cookies, adding peanuts as needed. If the chocolate begins to thicken, return the pan to the stove and heat until the chocolate thins to the proper consistency. Let air dry on the cookie sheets.
Store in an airtight container layered between strips of wax paper, and refrigerate for up to 3 weeks These cookies may be frozen.