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Melt chocolate and butter in the microwave, then stir in peanut butter, vanilla, and rice Chex cereal.
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Pour confectioners sugar and cocoa powder into a large ziptop bag. Then add coated cereal and shake until well covered.
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Spread onto cookie sheet in a single layer to cool.
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When cool, put into a large bowl and gently stir in pretzels and M&Ms, then serve!
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