Line a baking sheet with parchment paper.
In a stand mixer fitted with the paddle attachment, combine the frosting mix, powdered sugar, margarine, maraschino cherries, vanilla, and condensed milk. Starting on low speed, then gradually turning the speed to medium, beat until the mixture has a fluffy consistency, about 4 minutes.
Form the cherry mixture into 1-inch balls using a small (.75-ounce) cookie scoop. Place on the prepared baking sheet and freeze until firm, 1 to 2 hours.
To make the chocolate coating: In a medium saucepan, combine the chocolate bark, chocolate chips, peanuts, and vegetable oil and melt over medium heat, mixing to combine.
Working in batches, remove the cherry balls from the freezer and dunk them one at a time with a fork or spoon into the chocolate mixture. Allow any excess chocolate to drip off over the pan, then return the balls to the parchment paper.
Refrigerate until completely hardened, about 20 minutes.
Store in an airtight container in the refrigerator for up to 3 days. |