1 c. chocolate chips (I use semi-sweet)
1/2 c. butter
1/2 c. peanut butter
8 c. Rice Chex
2 c. confectioners sugar

Melt chocolate chips, butter, and peanut butter together. Pour over cereal and stir until completely coated. Put confectioners sugar in plastic bag (large Ziploc). Pour in cereal mixture and shake well.