In a mixing bowl, combine peanut butter and honey until smooth.
Add rolled oats and stir until fully incorporated.
Mix in chocolate chips, nuts, or coconut if desired.
Add vanilla extract and mix well.
Refrigerate the mixture for about 10 minutes to firm up.
Using your hands, form the mixture into small balls, about 1 inch in diameter.
Arrange the balls on a baking sheet lined with parchment paper.
Chill the formed balls in the refrigerator for at least 30 minutes.
Once set, transfer to an airtight container.
Enjoy your delicious peanut butter balls as a snack or dessert!