Set up a double boiler by adding 2 qt of water to a 4 qt sauce pot and bringing it to a boil. Add chocolate, peanut butter, and butter to a mixing bowl and place on top of the sauce pot. Whisk the ingredients together as they melt.
Once the mixture is evenly incorporated, you can add the vanilla extract and stir.
In a separate mixing bowl, add chicharrones. Pour chocolate mixture over and mix well until everything is coated.
Add mixture to a large plastic bag and add the powdered sugar. Zip the bag closed but make sure to leave extra air. Shake the mixture so everything is coated well and the powdered sugar has been absorbed by the chocolate covered chicharrones.
Store mixture in a clean plastic bag.