Pour cereal into a large bowl and set bowl aside.
Add chocolate chips to a microwave safe bowl and add peanut butter and butter.
Put the bowl in the microwave and microwave for one minute. Add ½ teaspoon of vanilla and microwave for 20 more seconds.
Stir until smooth.
Pour chocolate mixture of the cereal in large bowl.
Mix together, making sure to coat all the cereal with the chocolate.
Place the coated cereal into a large zippered bag and add ¾ cup of powdered sugar.
Zip bag and shake to coat the cereal.
Place on a sheet of wax paper to cool and after they will be ready in 15 minutes.
Calories: 261kcal | Carbohydrates: 43g | Protein: 5g | Fat: 9g | Saturated Fat: 3g | Cholesterol: 8mg | Sodium: 239mg | Potassium: 160mg | Fiber: 4g | Sugar: 19g | Vitamin A: 430IU | Vitamin C: 4mg | Calcium: 81mg | Iron: 9.7mg