Scoop large balls of ice cream onto baking sheet lined with waxed paper. Put the ice cream portions in the freezer to harden. Insert salted peanuts into the ice cream balls so they resemble porcupine quills. Serve in dessert dishes with chocolate sauce.
In a small saucepan heat chocolate chips with whipping cream over low heat, stirring constantly. Continue to cook until chocolate is melted and sauce is smooth. Stir in vanilla. Keep the unused chocolate sauce refrigerated for 1 to 2 weeks.