Slice the ripe bananas into rounds and place in a freezer safe container. Freeze for 2 hours. This step is crucial for better taste and consistency.
Place frozen bananas in a mini food processor. Process until bananas are mashed (the texture may look dry).
Add milk, peanut butter and vanilla. Blend until smooth.
Transfer mixture to a freezer safe container with a lid. Stir in chocolate chips if desired. For soft serve consistency, enjoy immediately. For hard ice cream consistency, freeze for 1 hour.
Notes
This recipe can be doubled easily if you have a larger food processor.