Preheat oven to 325 degrees.
In a large bowl, combine both cereals and pretzels.
In a small, microwave safe bowl add butter and honey.
Microwave for 30-second increments until the butter is melted.
Whisk cinnamon and vanilla into butter mixture until thoroughly combined.
Pour butter mixture over cereal mixture and stir to combine.
Pour mixture onto a baking sheet and bake for 15 minutes.
Cool completely before serving.