Prep Time: 10 min. • Cook Time: 1 min.
Combine cereals and marshmallows and set aside.
In a small microwaveable bowl, combine chocolate chips, peanut butter and butter; heat uncovered on high for 30 seconds and stir. Microwave for 15 seconds and stir again until smooth and combined.
Stir in vanilla, pour over cereal mixture and stir to coat.
Pour mixture into a 2-gallon resealable storge container. Add powdered sugar. Seal and shake until coated. Transfer to serving bowl; stir in pretzels, peanuts and candies.