1 c. chocolate chips
1/2 c. butter
1/2 c. peanut butter
8 to 9 c. Rice or Corn Chex cereal
2 c. powdered sugar

Melt chocolate chips, butter and peanut butter in a saucepan. Stir until well blended. In a large bowl, pour chocolate mixture over cereal until well coated. Sift powdered sugar into a plastic storage bag; add the coated cereal and roll gently until all sugar is absorbed. Store in airtight container.