9 cups Chex cereal (Corn, Rice or Wheat)
1 cup semi-sweet chocolate chips
1/2 cup smooth peanut butter
1/4 cup margarine or butter
1 tsp vanilla extract
1 1/2 cups powdered sugar
Melt chocolate, peanut butter and margarine over low heat until smooth. Remove from heat, stir in vanilla and pour immediately over cereal.
Coat with powdered sugar. Cool and store in air tight container. I find it easier to put sugar in large zip-lock bag to coat ceral mixture.