12 oz semisweet chocolate chips 1 c smooth peanut butter 1 stick butter 1 t vanilla 1 box rice chex cereal 1.5 c powdered sugar
Melt chips, peanut butter and butter in microwave. Stir until smooth. Add vanilla. Pour over cereal in a large bowl. Gently stir until coated evenly. Sprinkle powdered sugar over all. Put lid on bowl, and shake until cereal is coated. Makes about 16 1-cup servings.