In a large mixing bowl with an electric mixer, cream together the peanut butter, unsalted butter, powdered sugar, vanilla, and salt until thoroughly combined. (The mixture should come together when pressed between two fingers and not crumble.)
Using a 1-inch sized cookie scoop, shape mixture into balls (dough will be sticky); place on the prepared baking sheet and transfer to the freezer for 30 minutes until firm.
Melt candy melts according to package directions until completely smooth.
Dip balls in the melted chocolate, letting the excess drip off. Place on the baking sheet; immediately press an M&M onto the top of each eyeball. Place back in the freezer for 5 minutes, or until set.
Add red food gel to the melted chocolate remaining in the bowl; mix to combine, starting with a couple drops and adding more to get the color red you want. Transfer to a resealable plastic bag. Snip off a tiny corner and pipe wavy lines downward from the M&Ms.
Place back in the freezer for 5 more minutes to set completely.