In med mixing bowl pour chex mix.

Heat in sauce pan or microwave safe container. Butter, peanut butter, and chocolate chips. Stir until smooth consistency. Add vanilla extract and stir until fully mixed in.

Pour chocolate mixture over chex mix and stir unil evenly coated.

Pour into 1 gallon zip lock. Add powdered sugar and shake until coated. Once fully cooled you can add additional powdered sugar to get a more powdered coating.