1 (12 oz.) box Rice Chex
2/3 c. creamy peanut butter
1 (12 oz.) bag chocolate chips
1 stick (1/2 c.) butter
1 (1 lb.) box powdered sugar

In microwave or in double boiler, melt chocolate chips, peanut butter and butter. Stir until smooth. Pour over Rice Chex and stir until all is covered. Put the powdered sugar in clean grocery bag and pour in the chocolate covered Rice Chex. Close bag and shake until all is covered.