Heat oven to 350°F. Place cereal in resealable food-storage plastic bag; seal bag and finely crush with rolling pin or meat mallet (or finely crush in food processor). In large bowl, mix crushed cereal and melted butter. Press mixture in 13x9-inch pan.
In large bowl, beat cream cheese, eggs, sugar and vanilla with electric mixer on medium speed until smooth. Spread over crust.
Bake 20 to 25 minutes or just until set. Cool completely in pan on cooling rack, about 1 hour. Cut into 6 rows by 4 rows. Garnish bars with sliced strawberries. Store covered in refrigerator.