You will need:
-9 c. Chex cereals (corn, rice and/or wheat)
-1 c. semi sweet chocolate chips
-1/2 c. peanut butter
-1/4 c. butter
-1/4 tsp. vanilla
-1 1/2 c. powdered sugar
Pour cereal into large bowl and set aside. Combine chocolate chips, peanut butter and butter in 1 quart microwavable bowl. Microwave on high for 1 to 1 1/2 minutes or until smooth (stir after 1 minute). Stir in vanilla. Pour chocolate mixture over cereal and stir until all pieces are evenly coated.
Pour cereal mixture into large container (with seal) with powdered sugar. Seal securely. Shake until all pieces are well coated.