In a small saucepan over medium heat, melt butter and whisk in brown sugar and peanut butter. Heat until sugar dissolves (about one minute). Remove from heat and cool to room temperature.

In a large mixing bowl, beat cream cheese with powdered sugar until creamy. On low, add cooled butter mixture and mix until combined.

Fold in mini chocolate chips and chopped Reese's cups. Serve immediately or refrigerate until ready to serve. Enjoy with pretzels, animal crackers, graham sticks, or fruit.