Combine the white chocolate and peanut butter in a large heavy saucepan over low heat. Cook, stirring constantly, for 5 to 6 minutes or until smooth. Remove from heat and stir in the rice cereal, marshmallows and peanuts.
Drop by rounded spoonfuls onto a plastic wrap- or waxed paper-lined baking sheet. Chill for 10 minutes or until set.
Place the chocolate chips in a small heavy plastic sealable bag. Submerge the sealed bag in hot water until the chocolate is melted.
Cut a tiny hole in one corner of the bag and drizzle the chocolate over the candies. Chill fo 10 minutes. Store in an airtight container.