STEP-1
STEP-2
Heat butter, peanut butter and white chocolate chips in a small pot on LOW, stirring constantly. Mix until all melted and well blended.
STEP-3
Add vanilla and stir well. Take off heat and pour over cereal. Toss so that most or all pieces are well coated.
STEP-4
Place 1½ cups powdered sugar in a large ziploc bag. Pour cereal into the bag and shake until all the pieces are coated with powdered sugar.
STEP-5
Place in a bowl until ready to serve.