In a large mixing bowl, beat softened cream cheese and softened butter with an electric mixer until smooth and creamy. This should take about 2-3 minutes.

Add the light brown sugar and creamy peanut butter to the bowl. Beat again until well combined and no lumps remain.

Gradually add the powdered sugar while mixing on low speed until fully incorporated. Scrape down the sides of the bowl as needed.

Gently fold in the semi-sweet mini chocolate chips and chopped Reese's peanut butter cups until evenly distributed.

Serve immediately with pretzels, graham crackers, animal crackers, or fruit for dipping. Alternatively, cover and refrigerate for at least 30 minutes to allow the flavors to meld and the dip to firm up.