Line baking sheet with wax paper; set aside. Place chocolate morsels and peanut butter in 2-quart microwave-safe bowl. Microwave on HIGH, 1-1/2 – 2 minutes, stirring every 30 seconds or until chocolate is melted and smooth. Stir in chow mein noodles and peanuts, mixing until coated.
Using a tablespoon, drop chocolate mixture onto wax paper. Refrigerate 1 hour or until chocolate hardens and clusters become fi rm. Remove from refrigerator; store at room temperature in airtight container.