1 box Krispix
12 oz. bag semi - sweet chocolate chips
1 c. peanut butter
1 stick butter
1 box confectioners sugar

Place chocolate chips, butter and peanut butter in bowl and microwave for 2 minutes to melt. Stir and pour over box of Krispix cereal in another bowl and stir well to coat. Cool slightly. Place confectioners sugar in paper sack with cereal and shake to coat.