1Place each of six 3x1/2-inch mitten-shaped cookie cutters, or other cookie cutters in a simple shape, on 5-inch square of foil. Seal foil tightly around outside of each cookie cutter. Place on cookie sheet. Lightly spray cookie cutters with cooking spray.
2In 4-cup microwavable measuring cup, mix chocolate chips, peanut butter chips, milk and butter. Microwave uncovered on High 1 to 2 minutes, stirring every 30 seconds, until chips are almost melted. Stir in vanilla.
3Pour mixture into cookie cutter molds, filling to tops of molds. Refrigerate uncovered about 2 hours or until firm. Decorate with icing and candies.
4Carefully remove foil. Gently press fudge out of molds to serve.