Prickly Porcupines

1. In a mixing bowl, blend together the peanut butter, condensed milk and confectiners' sugar with a wooden spoon.
2. Knead the mixture in the bowl with your hands until it holds together.
3. Divide the mixture into small pieces and place on wax paper.
4. Roll each piece into a ball about 1 inch in diameter.
5. Roll the balls in the chopped peanuts.