9 cups Corn Chex, Rice Chex, Wheat Chex or combination
1 cup semisweet chocolate chips
1/2 cup peanut butter
1/4 cup butter or margarine
1 teaspoon vanilla
1 1/2 cups powdered sugar
Into large bowl, measure cereal; set aside.
In microwavable bowl, microwave chocolate chips, peanut butter and butter uncovered on High 1 minute; stir.
Microwave about 30 seconds longer or until mixture can be stirred smooth. Stir in vanilla. Pour mixture over cereal, stirring until evenly coated.
Pour into 2-gallon resealable food-storage plastic bag.
Add powdered sugar. Seal bag; shake until well coated. Spread on waxed paper to cool.
Let settle for an hour. Store in airtight container in refrigerator.
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