1 (12 oz.) bag of chocolate chips
1 stick butter
1 c. peanut butter
1 tsp. vanilla
1 box of Rice (or Corn, Wheat) Chex
1 box of confectioners' sugar

Melt first four ingredients in a saucepan. Pour over Chex and coat well. Dump coated Chex into a plastic trash bag with 1 box of confectioners' sugar. Shake well. Put bag into the refrigerator and chill. Enjoy!