1 box Rice Chex cereal
1 bag sm. pretzels
1 (12 oz.) bag chocolate chips
1 stick butter
1 c. peanut butter
1 box confectioners' sugar

In double boiler, melt chocolate chips, butter and peanut butter. Stir to blend thoroughly. Pour cereal and pretzels in a very large container. Pour melted chocolate chip, butter and peanut butter mixture over cereal and pretzels, stir to coat all pieces.