Spread peanut butter on each slice of bread. Add chocolate to one slice on top of the peanut butter. Top with other bread slice, peanut butter-side down.
On a cutting board, arrange 4 strips of bacon so that they are slightly overlapping. Place sandwich in the middle and wrap bacon strips up around the top of the sandwich.
With sandwich off to the side, arrange 4 more strips of bacon in the same manner. Flip the sandwich, so that loose ends of bacon are facing down. Place the sandwich on top of the second row of bacon, rotating 90 degrees so that the bacon strips are perpendicular to the first set. Wrap the bacon strips up around the top of the sandwich again.
Using a griddle on medium heat, grill sandwich with the loose ends of bacon facing down first. Cook 5-7 minutes; flip sandwich and cook another 5-10 minutes, or until bacon is fully cooked.
Use tongs to hold the sandwich upright in order to cook the sides of the sandwich. Rotate sandwich to cook all 4 sides, about 3-4 minutes per side.
Once bacon is fully cooked on all sides of the sandwich, remove from heat and transfer to paper towel-lined plate to drain.
Cut sandwich in half and serve.