In a large mixing bowl, blend together the peanut butter and honey until smooth.

Add the carob powder and rolled oats to the peanut butter mixture, stirring until all ingredients are well coated.

Roll the mixture into 1-inch balls using your hands.

Roll each ball in finely chopped nuts or shredded coconut until evenly coated.

Place the coated bon-bons on a baking sheet lined with parchment paper.

Refrigerate the bon-bons for about 1 hour, or until firm.

Once chilled and set, transfer the bon-bons to an airtight container for storage.