9 cups chex cereal (wheat, corn, and rice)
1 cup semisweet chocolate chips
1/2 cup peanut butter
1/4 cup butter
1 tsp. vanilla
1 1/2 cups powdered sugar
Measure cereal into a large bowl & set aside.
In a 1 qt. microwavable bowl, microwave chocolate chips, peanut butter, & 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. Store in airtight container in refrigerator.
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