1 stick butter
1 (12 oz.) bag semi-sweet chocolate chips
1 c. creamy peanut butter
1 (12 oz.) box Rice Chex cereal (it's the mildest flavor)
1 box confectioners' sugar

Melt butter, chips and peanut butter, low heat. Stir until creamy, no lumps. Pour over box of cereal in a large bowl. I use cake-taker from Tupperware. Stir until all is coated. It will break up. Stir in sugar, 1/3 of the box at a time, until entire box is used and all is coated. Serve in bowl.