1

In an extra-large, microwave-safe mixing bowl, combine the butter, chocolate chips, and peanut butter. Heat the bowl in the microwave for 30 seconds, then stir the ingredients together with a spatula. Repeat this process until the ingredients are fully melted and smoothly blended together.

2

Add the cereals and mini pretzels to the bowl. Use the spatula to toss them thoroughly in the chocolate-peanut butter mixture.

3

Transfer half of the chocolate-coated cereal and pretzels to a large zip-top bag. Spoon half (one cup) of the powdered sugar into the bag, then seal the bag shut.

4

Shake the bag to coat the cereal and pretzels in the powdered sugar, then transfer them to a large baking sheet lined with parchment paper. Spread them out and allow them to cool for 15 minutes.