9 C Rice Chex or Crispix
1 C Semisweet Chocolate Chips
1/2 C Peanut Butter
1/4 C Butter
1 tsp Vanilla
1 1/2 C Powdered Sugar
Measure out the cereal and set aside in a large bowl.
Melt the butter then add chocolate chips and the peanut butter together, either in the microwave or on the stove top. Be careful not to burn it. Stir in vanilla. Pour mixture over cereal and stir until it is evenly coated. Pour into 1-2 gallon resealable gallon size bags.
Add powdered sugar to bags. Seal bag and shake until the cereal is well coated.
Store in an air tight container in the refrigerator.