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9 cups Rice Chex cereal
1 6oz. bag semisweet chocolate chips (1 cup)
1/2 cup peanut butter
1/4 cup butter
1 tsp. vanilla
1 1/2 cups powdered sugar

Measure cereal into large bowl; set aside. Heat chocolate chips, peanut butter and butter in 1 quart saucepan over low heat, stirring frequently, until melted. Remove from heat; stir in vanilla. Pour chocolate mixture over cereal in bowl, stirring until evenly coated. Pour into 2-gallon food storage bag; add powdered sugar. Seal bag; shake until well coated. Spread on waxed paper to cool. Store in airtight container in refrigerator.