4 1/2 cups Chex cereal (corn, rice or combination)
4 cups popped popcorn
1/2 cup cashew halves or honey-roasted peanuts, if desired
1/4 cup butter or margarine
6 tablespoons packed brown sugar
2 tablespoons light corn syrup
1/4 teaspoon vanilla extract
Mix cereal, popcorn
Microwave butter, brown sugar, corn syrup and vanilla in large microwaveable bowl uncovered on HIGH for about 2 minutes, stirring with spoon after 1 minute, until mixture is boiling. Pour over cereal mixture; stir with spoon or rubber spatula until evenly coated.
Microwave for 5 to 6 minutes, stirring and scraping bowl after every minute. Spread on wax paper to cool, stirring occasionally to break up pieces. Store in airtight container.