This treat is a classic favourite around the holidays, but that shouldn't stop you from making it all year round! It's crunchy and sweet, and ridiculously addicting.
1/2 cup smooth peanut butter
1/4 cup butter
1 cup chocolate chips
1/2 tsp. vanilla extract
9 cups Chex or Crispix cereal
3 cups powdered sugar
Combine the peanut butter, butter, and chocolate chips in a microwave safe bowl. Microwave on high for 1 minutes, then stir to blend all ingredients thoroughly. If the mixture is not completely melted, then microwave in 30-second intervals until smooth. Stir in the vanilla extract.
Place the cereal in a very large mixing bowl. Pour the peanut butter/chocolate mixture over the cereal and toss gently using a large spatula or spoon, making sure the cereal is evenly covered.
Place the powdered sugar in a large plastic bag. Add the coated cereal to the bag, leaving room at the top of the bag for it to be shaken. You may have to divide the cereal into 3-4 smaller batches, coating one batch at a time in powdered sugar. Shake the bag vigorously to evenly coat each piece of cereal with powdered sugar. Place the puppy chow in a separate large bowl and repeat with the remaining cereal, adding additional powdered sugar as needed.