1 (12 oz.) box Rice Chex
2/3 c. creamy peanut butter
1 (12 oz.) bag chocolate chips
1 stick butter (1/2 c.)
1 (1 lb.) box powdered sugar

In a microwave or in a double boiler, melt chocolate chips, peanut butter and butter. Stir until smooth. Pour over Rice Chex and stir until all is covered. Put the powdered sugar in a clean grocery bag and pour in the chocolate covered Rice Chex. Close bag and shake until all is covered.