Muddy Buddies

9 cups Corn, Rice and/or Wheat Chex
1 cup semisweet chocolate chips
1/2 cup peanut butter
1/4 cup margarine or butter
1 teaspoon vanilla extract
1 1/2 cups confectioners' sugar

Pour cereals into large bowl; set aside.

In 1-quart microwave-safe bowl combine chocolate chips, peanut butter and margarine. Microwave on HIGH 1 to 1 1/2 minutes or until smooth, stirring after 1 minute. Stir in vanilla extract. Pour chocolate mixture over cereals, stirring until all pieces are evenly coated. Pour cereal mixture into a large resealable plastic bag with confectioners' sugar. Seal securely and shake until all pieces are well coated. Spread on wax paper to cool.

If using the stovetop, pour cereals into large bowl; set aside.

In small saucepan over low heat melt chocolate chips, peanut butter and margarine until smooth, stirring often. Remove from heat; stir in vanilla extract. Continue as above.