Place the cereal into a large bowl. Set the bowl aside.
Place the chocolate chips, peanut butter and butter into a microwaveable bowl. Cook this uncovered on the HIGH setting for 1 minute. Remove from microwave, and stir well. It is ready when all ingredients become smooth. If necessary, place back in microwave for15 additional seconds, then stir again until mixture is smooth.
Stir vanilla extract into melted chocolate peanut butter mixture. Pour this mixture over the cereal. Stir well, until all is coated with chocolate. Once coated, pour HALF the cereal into a separate large clean bowl. Add HALF the powdered sugar. Stir well, until completely coated.
Remove powdered sugar coated cereal to wax paper. Repeat process with other half of cereal and powdered sugar. Spread finished cereal on wax paper, until cool. This is the method I used.
(Note: If desired, you can place all the cereal and powdered sugar in a 2 gallon plastic storage bag, and shake until covered).
Store muddy buddies in a sealed, airtight container in refrigerator for up to 2 weeks
Chocolate Peanut Butter Muddy Buddies
Amount Per Serving (1 (1/4 cup serving))
Calories 134Calories from Fat 45
% Daily Value*
Saturated Fat 2g13%
Vitamin A 205IU4%
Vitamin C 2mg2%
* Percent Daily Values are based on a 2000 calorie diet.