1 (12 oz.) bag chocolate chips
1 stick butter
1 c. peanut butter, smooth
1 reg. box Corn Chex cereal (or Rice Chex)
1 lb. box powdered sugar

Melt first 3 ingredients. Put cereal in a large bowl; pour mixture over cereal and cool well. Then put powdered sugar in a brown grocery bag or large tupperware bowl with lid. Then shake to coat cereal with sugar.