Cream cream cheese, and peanut butter until mixed (using a hand-held mixer). Mix in grahams and vanilla. Add powdered sugar and 1 teaspoon milk; mix until combined.
Scoop 1 tablespoon sized balls onto a cookie sheet covered with wax paper. Roll each ball with your hands, then roll in sprinkles. The sprinkles won’t want to stick, so you need to press and roll at the same time, then re-roll the ball between your hands.
Place a pretzel stick in each ball. Chill for at least 30 minutes before picking them up by the pretzel rod.