Measure Chex Cereal into a large bowl and set aside.
In a small saucepan over the stove, melt together chocolate, peanut butter and coconut oil on low heat until fully melted, stirring constantly. Stir in vanilla extract.
Pour mixture over cereal, stirring gently until evenly coated. Pour half of the mixture into a large 2-gallon resealable storage bag or a Tupperware container (with a lid).
Add half the powdered sugar. Seal bag and shake until well coated. Repeat with the other half of the cereal.
Spread onto parchment paper-lined baking sheet to cool.
Scoop into mason jars and give as a fun holiday gift! Or store in an airtight container in refrigerator or freezer. Enjoy!
