In a medium saucepan melt the butter and brown sugar over medium heat until sugar has completely dissolved. Remove pan from heat and whisk in the vanilla extract. Set aside and let cool completely.
While sugar/butter mixture is cooling, cream together the cream cheese and powdered sugar for 1-2 minutes in a large bowl.
Slowly pour in the butter/sugar mixture. Beat until the mixture is combined and not separated. It may take up to 5 minutes.
Stir in the chocolate chips.
Serve with Graham crackers, vanilla wafers, animal crackers