Combine the rice chex cereal in a large mixing bowl and set it aside.

Melt the semi-sweet chocolate chips, creamy peanut butter, and unsalted butter in a medium saucepan over low heat. Stir gently until smooth and creamy.

Stir in the vanilla extract and green food coloring, then remove from heat.

Pour the chocolate mixture over the rice chex cereal and gently stir to coat.

Transfer the coated cereal into a large resealable plastic bag or a container. Add powdered sugar, seal, and shake until evenly coated.

Spread the mixture onto a baking sheet to cool for a few minutes.

Mix in the festive sprinkles and mini marshmallows once cooled.