Line a sheet pan with parchment or foil. Arrange 1/2 cup chocolate-covered pretzels on the pan. Melt 3 tablespoons chocolate chips in a microwave-safe bowl in 20-second bursts, stirring between bursts. Transfer melted chocolate to a resealable plastic bag, seal it, and snip off a corner. Pipe chocolate into the top two holes of each pretzel and press in candy eyeballs. Refrigerate until the chocolate sets.
Add Chex cereal to a very large bowl.
In a large microwave-safe bowl, combine peanut butter, chocolate chips, salt, and butter. Microwave in 20-second bursts, stirring between each, until smooth. Stir in vanilla if using. Pour over cereal, gently stirring to coat evenly without crushing.
Divide cereal mixture and powdered sugar in half. In a large resealable bag, layer 1/2 cup powdered sugar, half the cereal mixture, and another 1/2 cup powdered sugar. Seal and shake until coated. Transfer to a clean bowl. Repeat with remaining mixture and sugar, then combine in the same bowl.
Break up remaining 1 cup chocolate-covered pretzels and add them to the bowl with the coated cereal. Stir in mini Oreos and 3/4 cup M&M’s. Top with prepared “Goblins” and the remaining 1/4 cup M&M’s.
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Notes
Note 1: Milk chocolate provides a sweeter, milder flavor, while semi-sweet offers a less sweet, more intense taste. Higher-quality chocolate improves flavor and melt.Storage:Enjoy immediately or store leftovers in an airtight container at room temperature. You can also freeze it and enjoy straight from the freezer.