Add chocolate chips, peanut butter, and butter to a medium microwave-safe bowl. Heat on high for 1 minute. Stir. Continue heating for 30 seconds and stir until creamy and smooth.
Add Chex cereal to a large mixing bowl. Pour the chocolate peanut butter mixture over the cereal and toss to coat.
Spoon cereal mixture into a gallon ziplock bag. Add powdered sugar and shake and rotate the bag until all the cereal has been coated.
Pour the cereal onto a large, rimmed cookie sheet lined with parchment paper. If the mixture is warm, let it cool to room temperature.
Sprinkle m&m’s, peanut butter cups, pretzels and mini marshmallows onto the baking sheet. Stir to combine and enjoy!
Notes
Storage & Freezing
Place the Chex mix into an airtight container or storage bag for up to 1 week. Keeping it in the refrigerator will extend the freshness to a couple of weeks.Freeze the reindeer mix by placing it into an air-tight container or freezer bag for up to 3 months.