In small bowl, mix frosting, peanut butter and powdered sugar until well blended. Shape mixture into 1 1/4-inch balls. Gently press 1 cracker onto top of each ball.
Place chocolate chips in small microwavable bowl. Microwave on HIGH for 30 seconds. Stir; repeat until mixture is smooth.
Dip open end of each corn snack in melted chocolate; place in center of each cracker. Hold for about 10 seconds to set slightly. Let candies stand at room temperature until completely set, about 30 minutes. Decorate as desired.