Step 1: In a large mixing bowl, combine the rolled oats, shredded coconut, and unsweetened cocoa powder. Stir until well combined.
Step 2: In a medium saucepan, combine the granulated sugar, milk, and butter. Bring to a rolling boil over medium heat, stirring frequently. Boil for exactly one minute, without stirring.
Step 3: Remove the saucepan from heat. Immediately stir in the peanut butter and vanilla extract until smooth and fully incorporated.
Step 4: Pour the hot chocolate syrup mixture over the oat mixture in the large bowl. Stir vigorously with a sturdy spoon or spatula until all dry ingredients are thoroughly moistened and well combined. Work quickly, as the mixture will thicken as it cools.
Step 5: Allow the mixture to cool slightly until it’s comfortable to handle. Using a small cookie scoop or your hands, roll the mixture into 1-inch balls. Place them on a parchment-lined baking sheet.
Step 6: Place the baking sheet in the refrigerator for at least 30 minutes, or until the balls are firm. Serve chilled.