In a separate bowl add the chocolate, peanut butter, and butter. Melt the chocolate mixture in the microwave, stirring every 20-30 seconds. Keep an eye on the chocolate as it melts. The moment it starts to mix smoothly with the peanut butter, it’s ready. Don’t let it overheat or else it will become thick and lumpy.*
Add the melted chocolate mixture to the bowl with the cereal. Carefully mix them together with a rubber spatula.
Open a large ziplock plastic bag. Add about ⅓ cup of the powdered sugar to the bottom of the bag. Next add all of the chocolate covered cereal to the bag. Now add the rest of the powdered sugar to the bag.
Seal the bag well and shake until the cereal is evenly coated with the powdered sugar.
Spread the mix on to a parchment lined baking dish and place in the refrigerator for 30 minutes so the chocolate and powdered sugar can set.
Store in the refrigerator for up to a week and enjoy!