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5 cups Cheerios
5 cups Corn Chex
2 cups salted peanuts
1 pound chocolate M&M's
1 package (10 ounces) mini pretzels
2 packages (12 ounces each) white baking chips
3 tablespoons canola oil
In a large bowl, combine the first 5 ingredients; set aside. In a microwave-safe bowl, heat white baking chips and oil at 70% power for 1 minute, stirring once. Microwave on high for 5 seconds; stir until smooth.
Pour white chocolate mixture over cereal mixture and mix well. Spread onto 3 waxed paper-lined baking sheets. Cool; break apart. Store in an airtight container.