put chocolate, peanut butter and butter in microwave safe bowl

microwave for 1 minute.

add vanilla and mix well

place cereal in large bowl and pour chocolate mixture over cereal, or add cereal to bowl with chocolate. either way works.

toss to coat evenly.

put powdered sugar in large freezer bag or a few smaller bags.

put cereal mixture in bag(s) and shake vigorously to coat cereal evenly with powder

enjoy!