1/4cupred, white and pink candy-coated chocolate candies
2tbspred or pink jimmies sprinkles
Place cereal in medium bowl. In small microwavable bowl, microwave vanilla chips, peanut butter and butter uncovered on High 1 minute to 1 minute 30 seconds, stirring every 30 seconds, until melted and smooth. Pour peanut butter mixture over cereal, stirring until evenly coated.
Place 1/2 of the cereal mixture in 1-gallon food-storage plastic bag. Add powdered sugar. Seal bag; shake until well coated. Spread on waxed paper or foil; cool about 15 minutes.
Meanwhile, stir candies and sprinkles into remaining cereal mixture. Spread on waxed paper or foil; cool about 15 minutes.
In serving bowl, mix both cereal mixtures. Store in airtight container.