Instructions

• Place 2 tablespoons unsalted butter, 1 cup semi-sweet chocolate, and ½ cup smooth peanut butter in a heatproof bowl. Microwave on high in 20–30 second intervals, stirring between intervals, until the mixture is smooth and fully melted.
• Stir 1 teaspoon pure vanilla extract into the melted chocolate–peanut butter mixture until combined.
• Put 10 cups Rice Chex Cereal into a large mixing bowl.
• Pour the melted chocolate–peanut butter mixture evenly over the cereal. Gently stir with a spatula until the cereal is evenly coated, taking care not to crush the pieces.
• Let the coated cereal cool for 1–2 minutes, until the coating is warm but not hot and has thickened slightly (do not let it harden).
• Working with all the cereal at once or in batches if needed, transfer the coated cereal to a large zip-top bag. Add 1 and ½ cups powdered sugar, seal the bag, and shake and toss until the cereal is thoroughly coated in powdered sugar.
• Spread the coated cereal in a single layer on a large tray or baking sheet to cool completely and let the coating set. Once cooled, transfer to an airtight container for storage or serve.