• Place the 4 cups pretzels, 10 cups Chex cereal, 2 cups cornflakes, and 16 ounces roasted peanuts in a large mixing bowl and stir to combine.
• In a large saucepan bring the ½ cup butter, ⅔ cup light corn syrup, 1⅓ cups light brown sugar, ⅔ cup creamy peanut butter, and 1 teaspoon salt to a boil over medium heat.
• Continue to boil, stirring frequently, for 3 minutes.
• Remove from heat and stir in the 2 teaspoons baking soda, and 2 teaspoons vanilla extract. Be careful as the caramel mixture is hot and this will cause it to bubble and foam a bit.
• Pour the hot caramel mixture over the cereal mixture. Stir to coat.

Oven Instructions

• Preheat oven to 250℉ and grease a large rimmed baking sheet.
• Spread the caramel coated cereal mixture over the baking sheet.
• Bake for 45 minutes, stirring every 15 minutes.
• Spread cereal mixture over sheets of wax paper to cool. Sprinkle with the M&Ms.
• Once cool, break into smaller clumps. Store in an airtight container.

Microwave Directions

• This Chex mix can also be made in a large brown paper grocery bag. Just place all of the cereals, pretzels, etc. in the bag. Make the caramel mixture as described above. Pour the caramel mixture over the cereal in the bag and roll down the top of the bag to seal it and carefully shake to coat.
• Place bag in the microwave and cook on high for 30 seconds. Carefully remove bag and shake, turning the bag over to make sure everything is coated. Repeat this process for a total of 5 times in the microwave, with a shake after each.
• After the last trip to the microwave, dump the contents of the bag onto sheets of wax paper. Carefully spread the mixture out a bit. You want clumps, but not one huge clump! Allow to cool completely.
• Once cool, break into smaller clumps and sprinkle with candies. Store in an airtight container.