- Pour the cereal into a very large bowl. Set aside.
- Melt the chocolate in a double boiler or a heatproof bowl on top of a pot of boiling water, stirring frequently, until smooth. Stir in the peanut butter, butter, vanilla, and salt. Stir until combined and completely melted and smooth.
- Pour the chocolate mixture over the cereal. Stir until combined. Add the powdered sugar and toss until fully coated.
- Spread out the mixture on a baking sheet to cool completely. Divide among gift bags or jars, or place in an airtight container. You can refrigerate it, or store it at room temperature, where it will keep for 5 to 7 days.