1 stick butter
12 oz. pkg. chocolate chips
1 c. smooth peanut butter
1 1/2 (12 oz.) boxes Rice Chex cereal
1 (1 lb.) box powdered sugar

Microwave butter, chocolate chips, and peanut butter until melted and well blended, stirring at one minute intervals. Pour Rice Chex into a large bowl. Pour chocolate mixture over cereal. Stir until well coated. (I put it in a container with a lid and shake it.)

Sift powdered sugar into a large grocery bag. Dump in well coated Chex and shake, shake, shake! Store in airtight container.

NOTE: Chocolate mixture may be melted on top of stove over low heat, stirring constantly.