1. Place chocolate chips and shortening in small microwave-safe bowl. Microwave at MEDIUM (50%) 1 minute; stir. If necessary, microwave at MEDIUM an additional 15 seconds at a time, stirring after each heating, until chips are melted and mixture is smooth when stirred. Stir in peanuts.
2. Drop by teaspoons into 1-inch diameter candy or petit four papers. Refrigerate until firm, about 30 minutes. Store in tightly covered container in refrigerator. About 2 dozen candies.