Process 1/2 cup old-fashioned oats in a food processor until broken up.
Combine peanut butter and honey in a mixer until smooth.
Add oatmeal and processed oatmeal.
Stir until combined.
Using a spring-release scoop, scoop mixture into 1 to 1.5 inch balls.
Place balls on waxed paper on a cookie sheet, cover and refrigerate until set, about 1 hour.
Optional add-ins: 1/2 cup coconut flakes OR 1/2 cup chocolate chips
Melt chocolate in microwave at 30 second intervals, stir well between in interval. (READ POST LINKED ABOVE FOR COMPLETE GUIDE TO MELTING CHOCOLATE)
When chocolate is completely melted and smooth, EITHER stick a wooden pick into ball and dipped each into chocolate individually, tap excess chocolate off and place on waxed paper to dry OR use 2 forks to drop into chocolate roll around to cover, tap off excess and place on waxed paper to dry.