9 cup Chex 1 cup chocolate chips 1/2 cup peanut butter 1/4 cup butter 1/4 teaspoon vanilla 1 1/2 cup powdered sugar

Put cereal in large bowl. Melt chocolate chips, peanut butter, and butter. Remove from heat and stir in vanilla.
Pour over Chex cereal, put into a large plastic bag with powdered sugar and shake well to coat.

Spread mixture evenly on wax paper and allow to cool.