Prep the pan: Line an 8×8-inch pan with parchment or lightly coat with nonstick spray.
Melt the base: In a large pot over low heat, add light butter and honey. Stir until melted.
Add most of the marshmallows (reserve 1/2 cup), stirring constantly until just smooth. Don’t let it boil.
Add flavor: Remove from heat. Stir in vanilla and a pinch of salt.
Whisk in protein: Sprinkle protein powder over the warm mixture and stir quickly until blended.
If it looks too thick, add 1–2 teaspoons warm water to loosen. Aim for creamy, not pasty.
Fold in cereal: Add crispy rice cereal and the reserved 1/2 cup mini marshmallows. Gently fold until every flake is coated.
Press into pan: Transfer mixture to the prepared pan.
Lightly coat your hands or a spatula with nonstick spray and press evenly. Don’t smash too hard or the bars will be dense.
Optional extras: Sprinkle mini chips or sprinkles on top and press lightly so they stick.
Set and slice: Chill for 20–30 minutes to firm up. Cut into 12 squares for portions under 150 calories each.