Step 1: In a large pot, melt marshmallows and butter over medium heat, stirring constantly.
Step 2: When mixture is smooth, remove from heat and stir in vanilla.
Step 3: Add cereal in small batches, stirring well after each addition.
Step 4: Stir in chocolate chips.
Step 5: Spray a 9x13 baking pan with cooking spray.
Step 6: Press cereal mixture evenly into pan.
Step 7: Cover with plastic wrap and refrigerate until firm, about 1 hour.
Step 8: For crunchy squares, store in an airtight container in the refrigerator.
Step 9: For chewy squares, store at room temperature.
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