1 stick butter, melted
1 c. peanut butter, softened
1 c. milk chocolate chips
1 box Rice Chex
2 c. powdered sugar

Combine first 3 ingredients; cook on low heat until chocolate chips are melted. (Helps to melt butter before adding other ingredients.) Pour over Rice Chex. Mix well. In fix-n-mix bowl, sprinkle powdered sugar over cereal mixture. Seal and shake until well coated.