Microwave butter and peanut butter in a microwave-safe bowl for 2 minutes on HIGH. Stir and microwave on HIGH for 2 more minutes. Add vanilla and sugar; stir with a wooden spoon to combine.
Pour into a buttered 8x8-inch pan lined with parchment paper. Place a piece of waxed paper on the surface. Refrigerate until cooled.
Cut into 1-inch pieces and store in an airtight container.
Melt in the microwave ½ cup of bittersweet chocolate chips. Using a spoon, drizzle melted chocolate over pieces of fudge.
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