1 pkg. Rice Chex
1 stick butter
1 c. peanut butter
1 lg. pkg. chocolate chips
Powdered sugar

Put Rice Chex into large bowl. Heat butter, peanut butter and chocolate chips in top of double boiler until melted and well blended. Pour over Rice Chex and stir gently until evenly coated. Spread waxed paper on counter tops. Cover with confectioners' sugar. Spoon chex on waxed paper and turn gently until all are coated (easier to work with small quantities at a time).