Line a large baking sheet with parchment paper.

In a large bowl, combine rolled oats, crispy rice cereal, and chopped pecans. Mix well.

In a medium saucepan, combine butter, granulated sugar, brown sugar, and 1/4 cup milk. Heat over medium heat until the mixture reaches a boil. Stir constantly and let it boil for exactly 1 minute.

Remove from heat and stir in 1 teaspoon of vanilla extract.

Pour the hot mixture over the dry ingredients in the bowl and stir until well-coated.

Use a scoop to drop rounded spoonfuls onto the prepared baking sheet. Shape each scoop into mounds if necessary. Chill for at least 30 minutes.

For the glaze, whisk together powdered sugar, 3 tablespoons of milk, and 1/2 teaspoon of vanilla extract until smooth. Adjust with more milk if needed.

Drizzle or spoon the glaze over the cooled bites and allow it to set before serving.