In a large mixing bowl, add the cinnamon sugar cereal. Line a 9x9 square baking pan with a parchment paper sling and spray generously with coconut or avocado oil cooking oil spray. Set aside.
In a medium saucepan over medium-low heat, add the honey, peanut butter, and coconut oil. Stir to combine and bring to a gentle simmer. Whisk consistently and cook until the peanut butter and honey have melted together and are combined. Continue to simmer, stirring occasionally, until the mixture thickens, about 4 minutes. While whisking, add in the vanilla, cinnamon, salt, and collagen peptides. Continue to stir and cook until the mixture is totally combined and there are no clumps, about 1 more minute.
Immediately take the mixture off the heat and pour it over the cereal. Using a wooden spoon, gently stir the mixture together, folding the peanut butter and honey mixture into the cereal without breaking it apart. Continue to stir until all cereal pieces are evenly coated.
Quickly transfer the cereal mixture to the prepared baking dish, pressing into an even layer with the back of a spoon or your hands. It will be very sticky. Once the bars are in a compact, even layer, transfer to the fridge to set for 30 minutes.
Line a baking sheet with parchment paper and set aside.
Once the bars are set, remove from the fridge. Use the parchment sling to remove the bars. Using a sharp knife, cut into 16 squares. Alternatively, you can cut the squares in half to make 32 bite-sized pieces. Place the squares on the prepped baking sheet.