1/4 cup butter
1 (10-oz.) package miniature marshmallows
1 1/2 teaspoons vanilla extract
1/2 cup orange cake mix (such as Duncan Hines Orange Supreme)
6 cups crisp rice cereal
1 (12-oz.) package white chocolate morsels
3 cups powdered sugar
6 tablespoons butter, softened
6 to 6 Tbsp. orange juice
1/4 teaspoon vanilla extract
1/4 teaspoon orange extract
Peach food coloring gel
Melt 1/4 cup butter in a large Dutch oven over medium-low heat.
Add marshmallows, stirring until melted. Remove from heat. Stir in 1 1/2 tsp. vanilla extract. Add orange cake mix, blending well.
Stir in cereal and white chocolate morsels until well coated.
Spread mixture into a lightly greased 13- x 9-inch pan. Cool completely (about 30 minutes). Meanwhile, stir together powdered sugar, 6 Tbsp. softened butter, orange juice, 1/4 tsp. vanilla extract, orange extract, and desired amount of peach food coloring gel. Spread over cereal mixture. Let stand 1 hour before cutting.