Add powdered peanut butter and water to a small mixing bowl and use a spoon to stir until combined.
Add cream cheese, confectioner's sugar, and vanilla extract and stir until well combined. (I used an electric hand mixer, but a large mixing spatula will also work).
Stir in the chocolate chips and serve with graham crackers, cookies, sliced apples, celery, or eat it straight from a spoon!
If you're not concerned about keeping the fat and calories low, this recipe can be made with equal amounts of traditional, full fat cream cheese and regular peanut butter.WEIGHT WATCHERS FREESTYLE SMART POINTS - 1/4 cup = 2.5 points