In a microwave-safe bowl, combine 1 cup of white chocolate chips, 1/2 cup of peanut butter, and 1/4 cup of unsalted butter. Microwave in 30-second increments, stirring in between, until everything is melted and smooth.
Once the mixture is melted, stir in 1 teaspoon of vanilla extract.
In a large mixing bowl, pour the melted mixture over 8 cups of Chex cereal. Gently fold the cereal into the mixture until all the pieces are evenly coated.
In a separate bowl, mix together 1 1/2 to 2 cups of powdered sugar and 2 1/2 teaspoons of ground cinnamon.
Transfer the coated cereal to a large zip-top bag. Add the cinnamon-sugar mixture, seal the bag, and shake until all the cereal is generously coated.
Spread the Muddy Buddies out on a baking sheet lined with parchment paper. Allow them to cool for about 30 minutes.
Once they’re cool, serve them in a bowl or pack them into treat bags for a fun snack.
