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Preheat oven to 350.
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Break pretzels into pieces to use as antlers.
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Cream together peanut butter, butter, sugar and brown sugar until smooth.
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Add egg and vanilla and beat until smooth.
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Whisk together flour, baking soda and salt in a separate bowl.
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Slowly add dry ingredients to the creamed mixture, beating until incorporated.
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Roll into ½-3/4" balls and place on cookie sheet several inches apart.
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Sprinkle with sugar and gently make an indentation slightly off the center of each cookie.
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Bake 12-14 minutes.
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Place an M&M in the indentation of each cookie.
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Insert 2 mini chocolate chips (pointy side down) above the M&M to be the eyes.
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Insert 2 pretzel pieces to resemble antlers. If the antlers won't stick, place some chocolate chips in a sandwich bag and microwave 30 seconds and knead until soft. Clip the very tip of the corner and pipe onto cookie to act as glue.