A delectable concoction of rice chex, chocolate, peanut butter and M&M's
Measure out cereal and set aside.
In microwave-safe bowl, melt chocolate chips, peanut butter, and butter on high for 1 minute.
Microwave aditional 30 seconds until fully melted.
Stir in vanilla.
Pour over cereal and mix well.
Transfer cereal into a 2-gallon size ziploc bag and pour powdered sugar on top.
Shake well until cereal is well coated.
Add sprinkles and M&M's and shake well.
Store in air tight container.