1/2 stick butter
12 oz. pkg. milk chocolate morsels
1/2 c. peanut butter
1 box Rice Chex
1/2 box confectioners' sugar

Melt butter and chocolate morsels over low heat. Mix in peanut butter. Blend well, until smooth. Remove from heat and dump in whole box of Rice Chex. Mix well until Rice Chex are completely coated. Spoon into plastic container. Sprinkle with confectioners' sugar. Cover container with lid and shake until mixture is evenly coated. Place in serving dish and enjoy.