1 cup (about 20) coarsely chopped caramels, freeze first for easier chopping
1 package (12-oz, 2 cups) white chocolate chips
Instructions:
In a large bowl, combine cereal, pretzels, peanuts, and caramels. Mist a baking pan with nonstick cooking spray.
In a medium microwave safe bowl, microwave white chocolate chips at 70 percent power for 1 minute; stir. If lumps remain microwave at additional 10-second intervals, stirring in between, until smooth.
Pour chocolate over cereal mixture and toss to coat. Let cool just slightly. Spread mixture into the prepared baking pan with your hands and let it stand for 20 to 30 minutes. or until firm. Break into bite-size pieces.