In a large mixing bowl, combine the chopped maraschino cherries, cherry juice, softened butter, almond extract, vanilla extract, and a pinch of salt. Mix until creamy.

Gradually sift in the powdered sugar, stirring continuously until a thick, cohesive dough forms.

Cover the bowl with plastic wrap and refrigerate for 20–30 minutes.

Once firm, roll the mixture into 1-inch balls and place on a parchment-lined baking sheet.

Freeze the truffles for another 15–20 minutes.

In a microwave-safe bowl, combine semisweet chocolate chips and peanut butter. Microwave in 20-second intervals until melted.

Dip each chilled truffle into the chocolate mixture, allowing excess to drip off.

Chill the coated truffles for an additional 15 minutes.

Optionally garnish with chopped peanuts or a drizzle of white chocolate.