Pour cereal into a large bowl and set aside for later.

In a medium saucepan, combine corn syrup or honey and sugar. Bring to a boil over medium heat.

Allow the sugar mixture to boil for about one minute, until all the sugar is good and dissolved. Be sure to stir continuously to keep things from burning.

Remove from heat and add peanut butter and vanilla while it's still hot. Stir in peanut butter until melted. Sugar mixture should thicken up a bit.

Pour over cereal and mix. Turn the cereal to mix until it's completely covered.

Spread into a 9x13 pan or container and pack down using a spatula.

Allow to cool until firm. About two hours.

Metl choclate chips and drizzle over the cereal bars. Allow chocolate to cool until firm; you can speed things up by placing it in the refrigerator.