8 c. Rice Chex cereal (or Crispix)
1 stick (1/2 c.) butter
1 c. chocolate chips
1/2 c. peanut butter
2 c. powdered sugar

Place cereal in a large pan. Set aside. Melt butter, chocolate chips and peanut butter for 2 minutes in microwave oven or on top of stove. Stir until well blended. Pour over cereal and mix until well coated. Let cool.

Place 1 cup powdered sugar in a paper grocery bag, then place coated cereal inside. Add remaining sugar. Fold down the top of the bag and shake until well coated. Place mixture in a flat pan to complete cooling.