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Combine morsels and Coffee mate Snickers® Flavor Liquid in a medium, microwave-safe bowl. Microwave on HIGH (100%) power for 1 minute. Stir until smooth. Microwave for an additional few seconds if necessary. Refrigerate for about 30 minutes.
Roll into 1 ¼-inch balls. Roll in peanuts. To help peanuts stick better, try lightly dampening the outside of the truffles with water before rolling.
Refrigerate until firm. Once firm, they can be stored at room temperature.