Here's an easy crowd-pleaser! Just make sure you have lots of people around when you conjure this up because it makes way too much for one person to handle.
1/4 cup butter
1 cup Nutella
1/2 cup peanut butter
1/2 tsp vanilla
9 cups Chex (I used Rice Chex.)
2 1/2 cups powdered sugar
Melt together the butter, Nutella, and peanut butter in a medium-sized saucepan on medium-low heat until smooth and creamy.
Pour half the cereal into a bowl, top with the hot nutella mixture, and then add the rest of the cereal.
Stir together gently.
Pour the mixture into a gallon-sized Ziploc bag filled with the powdered sugar, and shake!