Christmas Chex Mix is basically loaded up puppy chow that is extra festive for the holidays. It is no bake, easy to make, and tastes amazing. If you are a fan of chocolate and peanut butter, this is the snack mix for you!
Place the 4 cups powdered sugar in a 2 gallon plastic bag, or divide it between two 1 gallon bags.
Put 12 ounces chocolate chips and 16 ounces creamy peanut butter in a large microwave safe bowl. Microwave on high in 30 second bursts, stirring after each trip to the microwave, until it stirs smooth (1½-2 minutes).
Stir in the 8 cups Chex cereal and half of the 24 ounces peanut butter filled pretzels. Be careful not to crush the cereal and keep stirring until it is all coated.
Spoon coated cereal into bag(s) with powdered sugar. Seal bags and shake to coat.
Stir in the 10 ounces holiday M&Ms and remaining pretzels.