Place the cookies in a food processor and pulse them until they are fine crumbs. Alternately, you can use a mixer if you watch it carefully and stir the cookies so that they are evenly crushed.
Transfer the cookie crumbs to a medium bowl. Add the softened cream cheese and peanut butter, and stir with a spoon until the mixture is a homogenous paste. It should be easy to mold into balls, but not too wet or soggy.
Use a small candy or cookie scoop, or a teaspoon, to shape small balls. Roll them between your hands to get them perfectly round, and place on a cookie sheet covered with aluminum foil. Although the balls can be dipped right away, they hold together better if they are refrigerated for at least an hour before being dipped.
After the candy centers have chilled, place the chocolate candy coating in a large microwave-safe bowl and microwave it until melted, stirring after every minute to prevent overheating.
Using dipping tools or a fork, dip each peanut ball in the chocolate candy coating and replace it on the foil-covered baking sheet. If desired, top the truffles with chopped peanuts while the chocolate is still wet.
Refrigerate the truffles to set the chocolate for about 20 minutes. Store Nutter Butter Truffles in an airtight container in the refrigerator for up to two weeks.