Line a baking sheet with parchment paper, set aside.
In a medium sauce pan, heat the sugar, corn syrup, and peanut butter, stirring frequently, until boiling.
Remove from the heat, and pour the mixture over the fritos.
Toss to coat the fritos in the candy mixture.
Drop the frito candy mixture by spoonfuls onto the parchment paper.
Allow the candy to set for 20 minutes.
Then, melt the chocolate chips by microwaving for 30 second intervals, mixing well in between.
Drizzle the melted chocolate over the candy, and sprinkle with Christmas sprinkles.