12 oz. box Rice Chex or Crispix
12 oz. semi-sweet chocolate chips
1 stick butter
2/3 c. peanut butter
1 box powdered sugar

Melt chocolate chips, butter and peanut butter until smooth - not boiling. Pour over cereal in a large bowl and stir until covered. In paper sack, pour powdered sugar and cereal. Shake until cereal is well covered.