01 -
Line a large baking sheet with parchment paper and set aside.
02 -
Over medium heat, combine peanut butter, light brown sugar, and corn syrup in a saucepan. Stir constantly until smooth and gently bubbling, approximately 2 to 3 minutes. Remove from heat and stir in vanilla extract.
03 -
Pour the hot caramel mixture over the crispy rice cereal in a large bowl. Stir thoroughly until the cereal is evenly coated and has a glossy finish.
04 -
Drop heaping spoonfuls of the mixture onto the prepared baking sheet and lightly press into rough clusters.
05 -
Whisk together powdered sugar, milk, and vanilla extract until smooth and pourable.
06 -
Drizzle the icing over each cluster and immediately sprinkle with red and green holiday sprinkles for a festive touch.
07 -
Allow the clusters to set at room temperature until firm, approximately 45 to 60 minutes.