Using a handheld mixer and a large bowl or a stand mixer fitted with the whisk attachment, combine the cream cheese and peanut butter on medium speed until fully combined and fluffy, 2 to 3 minutes. Lower the mixer speed and add the confectioners' sugar and vanilla. Continue to mix until fully combined, another 2 to 3 minutes. Fold in 3 tablespoons of the mini chocolate chips. Cover the mixture and refrigerate until firm, at least 30 minutes and up to overnight.
Transfer the mixture to the center of a serving plate, cover loosely with plastic wrap and press down gently to adhere it to the plate. Using your hands, mold the dip into the shape of a football. If the dip gets too soft, put back in the fridge to chill for 10 minutes.
To decorate, mix together the chocolate sprinkles and remaining mini chocolate chips; set aside. Use the white chocolate chips to create the stitching of the football, gently pressing so the chips adhere to the dip. Use the chocolate chip and sprinkle mixture to cover the rest of the dip, pressing gently to adhere and tilting the plate to fully cover the sides and ends of the football.
Serve with an assortment of dippers, such as waffle cone chips, pretzels, vanilla wafer cookies and strawberries.