Line a cookie sheet with parchment paper or wax paper, set aside.
In a medium mixing bowl, combine the sugar, peanut butter and butter using a stand or hand mixer.
Using a small cookie scoop, scoop dough and roll into one inch balls. Place on a waxed paper-lined cooking sheet. Refrigerate or freeze for 30 minutes or until firm.
Combine the white chocolate chips and canola oil. Melt the candy coating in a microwave-safe bowl using 30 second intervals, stirring between each heating.
Dip each ball in the melted chocolate and place on parchment-lined baking sheets to harden. Sprinkle with chopped peanuts, Christmas sprinkles or any pretty sprinkles.
Refrigerate in an airtight container until you're ready to serve. Enjoy!