Took this to a cookout last night and it was gone by the end of the night. Kids and adults love it. So easy.
1 box of Chex rice/corn cereal (17 oz box)
3 cups of milk choc. chips
1 cup peanut butter (creamy)
1 stick butter (or 1/2 cup)
1 pound powdered sugar
Melt choc. chips, peanut butter and butter in microwave. Melt 2 minutes and stir. The choc. chips will melt last but once the butter is completely melted, just keep stirring until the chips melt. Be careful not to microwave too much or you'll burn your butter.
Pour cereal into large bowl and coat with melted choc. mixture. This is messy, you may want to use your hands to get all the cereal pieces coated. Pour cereal into a large brown grocery bag or you can use a small plastic bag (I used a 13 gallon trash bag liner). Pour powered sugar over cereal, close the top and shake gently a few times coating the cereal with the powered sugar.
NOTE: I have always used a brown paper bag. Yesterday I didn't have a bag so I used the plastic bag and I really liked it better. After I mixed the contents, I then cut off about 3/4 of the bag and it was very easy to pour. I'll use a plastic bag from now on. This can be stored in a sealed plastic container for many many days. I put a small measuring cup in the bowl so the kids (and adults) can easily pour some in their hands or a cup.