Mix butter, milk, sugar, and vanilla until light and fluffy. Add coconut and pecans and blend well. Form into balls and freeze overnight. I find if I freeze them with a toothpick stuck in each it makes them easier to dip the next day.
Melt chocolate and paraffin in a double boiler and mix well. Dip balls in chocolate and place on waxed paper to harden. If you used the toothpick method, remove the toothpicks after they cool and discard them.
These are definitely a pain to make but very delicious. I usually make them for Christmas and give them as gifts.