In a medium saucepan, over low heat, combine 1 cup of chocolate chips and ½ cup of peanut butter. Stir continuously for about 3–5 minutes until the mixture is melted and smooth with no lumps. Remove from heat and stir in 1 teaspoon of vanilla extract.

In a large mixing bowl, pour the melted chocolate and peanut butter mixture over 6 cups of Rice Krispies. Gently fold the cereal into the chocolate mixture, ensuring every piece is well coated for about 2–3 minutes.

Take the coated mixture and place it in a zip-top bag along with 1 cup of powdered sugar. Seal tightly and shake gently for about 30 seconds to coat evenly.

Prepare an 8x8 inch square baking dish by lining it with parchment paper. Transfer the coated mixture into the dish and press firmly into an even layer.

Allow to cool at room temperature for about 10–15 minutes, then lift from the dish using the parchment paper and cut into squares or bars.