Mix peanut butter, powdered sugar, rice cereal, and melted butter in a medium bowl. Stir with a spoon or mix with your hands until a dough forms.
Shape dough into individual eggs by hand and set on a baking sheet. Place eggs in refrigerator for about 1 hour.
In a small bowl, heat white chocolate chips in microwave in 30-second intervals, stirring in between, until completely melted and smooth.
Dip hardened eggs into the white chocolate until completely coated. Sprinkle with various pastel-colored decorations.
Set on a parchment-lined tray and place in refrigerator for an additional hour (or until cooled and set).
Store in an air-tight container in the refrigerator.