1/2 cup creamy peanut butter
4 oz. white chocolate
8 cups crispy rice cereal squares (Rice Chex)
3/4 cup powdered sugar
Microwave peanut butter and white chocolate in large bowl on HIGH 1-1/2 to 2 min. Stir until chocolate is completely melted and mixture is completely blended.
Add cereal; toss lightly to coat. Spread on wax-paper lined baking sheet in single layer, avoiding big clumps. Cool completely.
Place coated cereal in large paper bag; add powdered sugar. Close bag and shake until well coated. Store in covered container at room temperature.
Substitute milk chocolate for white chocolate.