Place chips and shortening in medium microwave-safe bowl. Microwave at HIGH (100%) 1 minute; stir. If necessary, microwave at HIGH an additional 15 seconds at a time, stirring after each heating, just until chips are melted and mixture is smooth when stirred. Stir in peanuts.
Spoon heaping teaspoons of peanut mixture into 1-inch paper candy cups or paper-lined muffin cups. Refrigerate 1 hour or until firm. Store tightly covered in refrigerator. About 2-1/2 dozen candies.