Eskimo Snowballs

1 cup unsalted butter, softened
4 tbsp. water
1 tsp. vanilla
6 tbsp. cocoa powder
1 1/2 cups granulated sugar
4 cups quick cooking oats
powdered sugar
flaked coconut
chopped nuts

Cream the butter, water, and vanilla together. Add the cocoa powder, granulated sugar, and oatmeal; mix well. Roll dough into 1" balls and roll in either powdered sugar, flaked coconut, or chopped nuts. Refrigerate until ready to serve.