In a large mixing bowl, beat the softened cream cheese and peanut butter together with an electric hand mixer on medium speed until completely smooth, creamy, and well blended, with no lumps.

Add the sifted powdered sugar, vanilla extract, and salt. Beat on low to medium speed until fully incorporated and smooth, scraping down the sides of the bowl as needed.

Stir in the graham cracker crumbs by hand with a rubber spatula until evenly distributed. The mixture should become thick with a soft dough-like consistency.

Cover the bowl with plastic wrap and refrigerate for about 1 hour, or until the mixture is firm enough to handle and roll.

Use a small cookie scoop or teaspoon to portion the filling. Roll each portion between your palms into smooth balls about 1 inch in diameter. Place them on a parchment-lined baking sheet.

For the optional coating, place the milk chocolate chips and coconut oil in a microwave-safe bowl. Microwave in 30-second intervals, stirring well after each interval, until completely melted and smooth.

Using a fork or dipping tool, dip each chilled cheesecake ball into the melted chocolate and turn to coat completely. Let the excess chocolate drip back into the bowl. While the chocolate is still wet, roll the bites in extra graham cracker crumbs, crushed peanuts, chocolate sprinkles, or crushed pretzels, if desired. Return them to the parchment-lined baking sheet.

Refrigerate the coated or uncoated cheesecake bites for at least 30 minutes, until firm and the chocolate is set. Serve chilled. Store leftovers in an airtight container in the refrigerator for up to one week.