Line a rimmed baking sheet with a silicone baking mat or parchment paper; set aside.

Pour the cereal into the largest mixing bowl you own; set aside.

Place the chocolate chips, peanut butter, butter, and salt in a medium microwave-safe bowl and microwave on high for 1 minute.

Stir, then continue microwaving in 15-second intervals, stirring in between each, until almost melted, about 45 seconds more.

Remove from the microwave and stir until smooth. Stir in the vanilla.

Pour the chocolate peanut butter mixture over the cereal and use a spatula to gently stir in a folding motion until all the cereal is evenly coated.

Place the powdered sugar in a gallon-size zip-top bag. Add the blue powdered food dye and seal the bag.

Shake until the powdered sugar is evenly colored.

Add the coated cereal to the bag and shake vigorously until the cereal is evenly coated with the powdered sugar. If needed, remove the well-coated cereal, leaving the less-coated cereal, and shake again.

Pour onto the prepared baking sheet and spread into an even layer. Let cool for about 10 minutes.

Sprinkle the mini cookies and chocolate chips atop the muddy buddies, then transfer the whole mix to an airtight container or a clean zip-top bag if not serving immediately.

Serve in a big, shallow bowl for everyone to dig in.