Prep : Line a baking sheet/cookie sheet with parchment paper, foil, or wax paper. Set aside.
In the bowl of a stand mixer, using the paddle attachment, add the peanut butter, butter, and vanilla extract. Beat on medium speed until fluffy looking and lighter in color. About 2 minutes.
1 cup creamy peanut butter, 1/2 cup (1 stick) salted butter, 1 teaspoon vanilla extract
Dump the entire box of cereal into the stand mixer bowl and beat on low speed until combined thoroughly and the cereal is crushed. * It's 9 cups of cereal if using a larger sized box. 1 box (12.8 oz) Chocolate Chex Cereal
Add 1 cup of the powdered sugar and beat on low speed until combined.
Use a medium cookie scoop (1½ tablespoons) to scoop out the mixture and roll it into a ball. Place the ball on the prepared baking sheet and repeat until done.
Place the balls in the freezer for 10 minutes.
Add the remaining 1 cup of powdered sugar into a gallon-size Ziploc bag. Add the muddy buddy ball bites into the bag, seal the bag, and shake until all the balls are coated well in the powdered sugar. * If needed, add more powdered sugar to cover the bites well. Remove the muddy buddy bites from the bag and place them on a serving plate. Enjoy!