1. In large bowl, combine cereal, oats and peanuts.
2. In small saucepan, heat peanut butter, honey and salt over medium-low heat.
3. Stir until combined and heated through. Remove from heat and stir in vanilla extract.
4. Pour mixture over cereal and stir until well blended.
5. Transfer mixture to a lightly greased 8x8-inch baking dish. Place sheet of plastic wrap over top and press until firmly packed. Refrigerate 1 hour. Cut into squares.
This recipe is recommended for 16 servings.