In a large mixing bowl, combine the Rice Chex cereal and pretzel pieces.

Melt the chocolate chips and creamy peanut butter together over low heat on the stovetop, or microwave in short intervals until smooth.

Pour the smooth chocolate-peanut butter mixture over the cereal and pretzels, stirring gently to coat everything well.

Chill the mixture in the fridge for about 30 minutes, or until it just starts to firm up.

After chilling, transfer the mixture into a new large bowl. Add ½ cup of powdered sugar to the bottom, then layer in half of your cereal mixture, followed by another ½ cup of powdered sugar.

Top with the remaining mixture and sprinkle the last bit of powdered sugar over it. Carefully mix until the cereal is well coated.

Place back in the fridge for another 30-60 minutes until set.

Once set, sprinkle more powdered sugar gradually until the desired coating is achieved.

Finally, fold in the M&Ms and mini peanut butter cups until well mixed.

Serve in a festive bowl and enjoy right away or store in an airtight container for about 5-7 days at room temperature.