Line a 9x13-inch baking pan with parchment paper, leaving overhang on long sides. Lightly spray the paper with non-stick cooking spray or brush with melted butter. Set aside near the stove.
Measure 6 cups of Fruity Pebbles cereal into a large bowl. Measure 10 oz of mini marshmallows and set aside an extra ½ cup for gooey bars if desired. Have butter, salt, and vanilla ready at the stovetop.
Place a large, heavy-bottomed saucepan over medium-low heat. Add 4 tablespoons of unsalted butter and melt slowly, swirling occasionally, until fully melted but not browned.
Add the 10 oz of mini marshmallows to the melted butter. Stir constantly with a cooking spray-coated spatula over medium-low heat for 2-3 minutes until completely smooth and no lumps remain. Remove from heat immediately.
Immediately stir in ¼ teaspoon of fine sea salt and ½ teaspoon of pure vanilla extract until evenly incorporated, about 10 seconds.
Working quickly, pour the Fruity Pebbles cereal into the marshmallow mixture. Add the reserved ½ cup of marshmallows if using for extra gooeyness. Gently fold with the coated spatula until all cereal is evenly coated.
Immediately transfer the mixture to the prepared pan. Spray hands or the back of a flat spatula with cooking spray and gently press into an even layer. Do not press too hard or compact too firmly.
If using rainbow sprinkles, scatter them over the top immediately while the surface is still tacky. For white chocolate drizzle, allow bars to cool completely first (about 20 minutes), then drizzle melted chocolate over the top.
Allow bars to cool at room temperature for 20-30 minutes to set. Use parchment overhang to lift the slab onto a cutting board. Slice into 12 to 16 bars using a sharp knife lightly coated with cooking spray, wiping clean between cuts.