In a large bowl, combine the cereal and peanuts. In a microwave-safe bowl, melt chips at 70% power for 1 minute; stir. Microwave at additional 10- to 20-second intervals, stirring until smooth.
Pour over cereal mixture; stir until well coated. Spread onto a waxed paper-lined baking sheet. Let stand until chocolate is set. Break into small pieces.
Every editorial product is independently selected, though we may be compensated or receive an affiliate commission if you buy something through our links. Ratings and prices are accurate and items are in stock as of time of publication.
