Place chocolate chips, peanut butter, 3 cups oats, and vanilla in a large mixing bowl.

Meanwhile, in a medium saucepan, combine butter, milk, and sugar.

Bring to a rolling boil and then let boil for one minute.

Remove from heat and pour the wet mixture into the dry and combine.

Add more oats if the mixture is too runny.

Drop by tablespoonfuls onto foil or wax paper and let cool for at least one hour or until firm.