Mix first 3 ingredients (and if desired, any of the next two ingredients) together until smooth. Form into balls 1 1/2-inches in diameter. If peanut butter mixture becomes to hard to handle, chill in refrigerator.
Melt chocolate chips and shortening or paraffin in double boiler. Dip balls in chocolate and place on waxed paper to cool. Leave the tops of the peanut butter balls uncovered to make buckeyes.