Preheat oven to 350. Lightly grease cookie sheets.
Break pretzels into pieces to use as antlers.
In a large bowl cream butter, peanut butter, white sugar, and brown sugar until light and fluffy.
Add egg, salt, baking soda and vanilla.Stir until combined.
Gradually add flour a little at a time until just combined. Do not over mix.
Roll into balls ~1/2 inch each. Place on prepared pans.
Sprinkle with sugar, and make an indentation with your thumb in the center of each cookie.
Bake for 12-14 minutes or until the edges are golden brown.
Immediately place an M&M candy into the indentation as the nose. Add 2 mini chocolate chips (pointed end down) as eyes.
Insert 2 pretzels pieces as the antlers.
If the antlers won't stick, use melted chocolate chips as "glue".