Melt the chocolate chips, peanut butter, and butter together in a microwave-safe bowl in 30-second intervals, stirring until creamy and smooth.

Stir in the vanilla and salt to the melted chocolate mixture.

Drizzle the melted peanut butter and chocolate mixture generously over the Chex cereal, ensuring some areas are heavily coated for chunky goodness.

Place the chocolate-covered cereal in a large paper grocery bag. Pour the powdered sugar over the top and shake the bag gently to coat the cereal evenly. (Tip: For extra chunky clusters, use a wet/dry approach. Drizzle the chocolate mixture over the cereal instead of coating each piece individually. This allows for larger clumps to form.)

Spread the mixture on a baking sheet lined with parchment paper. Put in freezer for about 10-15 minutes, if properly set, store in an airtight container at room temp.