Begin by placing 4 cups of Rice Chex in a large sealable plastic bag. Crush the cereal into a fine crumble.

In a mixing bowl, combine the crushed cereal with 1 cup of creamy peanut butter, 1/4 cup of powdered sugar, and 1 teaspoon of vanilla extract. Mix until fully combined.

Form the mixture into balls, about 1 to 1.5 tablespoons each, and place them onto a parchment-lined baking sheet.

Transfer the baking sheet with the balls into the freezer for 30 to 60 minutes to firm them up.

In a microwave-safe bowl, melt 1 cup of semi-sweet or milk chocolate chips in short bursts, stirring in between until smooth.

Remove the chilled balls and dip each into the melted chocolate. Shake off excess chocolate.

Once the chocolate has set, roll each ball in additional powdered sugar before serving.

Serve immediately or store in an airtight container at room temperature for up to a week.