Instructions

• Melt the peanut butter and butter in a microwave-safe dish in 30-second intervals. Add the chocolate gradually, microwaving once more if needed, then stir in the vanilla until smooth.
• Put half of the cereal in a large bowl. Drizzle over half of the chocolate mixture and stir gently to coat.
• Place two large paper bags together. Add 1/2 cup powdered sugar and half of the coated cereal, close the bags, and shake vigorously. Add more powdered sugar 1/2 cup at a time until coated, then toss in one-quarter of the M&Ms and transfer to an airtight container.
• Repeat with the remaining cereal, chocolate mixture, powdered sugar, and M&Ms. Store in an airtight container.