Grease an 8-inch square pan with butter. Set aside.
Melt butter in a 5 quart (or larger) pot set over medium heat. Add 7 cups of marshmallows (reserve remaining 1½ cups for later). Stir to combine, then cook, stirring occasionally, until marshmallows melt and the mixture is smooth. Add vanilla extract to the marshmallow/butter mixture and stir to combine.
Add cereal to the pot and stir well to coat with marshmallow mixture. Remove pot from the heat.
While the mixture is still warm, stir in remaining 1½ cups marshmallows (this makes the treats extra gooey). *If they aren't melting well, return pot to the stove and stir over low heat for a few seconds! You don't want them to be totally melted, just a little soft!
Transfer the cereal marshmallow mixture into prepared pan. Lightly butter your hands or use a non-stick spoon or spatula to gently press the cereal into an even layer in the pan.
Cool for at least an hour before cutting into squares.
Notes
If using unsalted butter, add ¼ teaspoon of salt to enhance the flavor of the treats. Dairy free and plant-based butters will also work.
You can use larger marshmallows, but you'll want to cut them into smaller pieces to help them melt more easily.
To take this dessert up a notch, pour chocolate ganache or melted chocolate over the top of the cool bars.