Chocolate Peanut Butter Coated Apples

10 to 12 wooden ice cream sticks
10 to 12 medium apples, stems removed
1 2/3 cup (10 ounce) REESE'S Peanut Butter Chips
2/3 cup HERSHEY'S Cocoa
2/3 cup confectioners' sugar
1/2 cup vegetable oil
REESE'S Peanut Butter Chips or HERSHEY'S Premier
    White Chips, chopped (optional)

Insert wooden stick into each washed and thoroughly dried apple. Cover tray with wax paper.

In top of double boiler over hot but not boiling water, combine peanut butter chips, cocoa, powdered sugar and oil. Stir constantly until chips are melted and mixture is smooth. Remove from heat. Dip apples in mixture; twirl to remove excess coating. (If coating becomes too thick, return to low heat or add additional oil, 1 teaspoon at a time.) Roll lower half of coated apple in peanuts or coconut if desired. Allow to cool on prepared tray. Refrigerate if desired.

Microwave Directions
In medium microwave-safe bowl, stir together peanut butter chips and oil. Microwave on HIGH (100%) for 11/2 minutes or until chips are softened. Stir until melted. If necessary, microwave on HIGH an additional 15 seconds at a time, stirring after each heating, just until chips are melted when stirred. Stir together powdered sugar and cocoa; gradually add to melted chip mixture, stirring until smooth. Microwave on HIGH 1 minute or until very warm. Continue as directed above.