Place the first three ingredients in a large, microwavable bowl (if the bowl is larger than a 9 cup capacity, you can use the same one through the whole process). Stir the sugar, corn syrup, and peanut butter together and place in the microwave. Microwave for 4 minutes, stirring it halfway through. Remove from microwave, add vanilla and stir. Add the cereal and stir to evenly coat. Scrape into a greased 13x9 pan. Press the mixture lightly and evenly into the pan. Allow to cook and cut into bars. (You can place the pan in the freezer if you need them to cool quickly.)
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