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This is a sweet-salty snack perfect for holiday parties or gift giving. Use red and green M&Ms for Christmas, pastels for Easter, etc.
In a large bowl, combine pretzels, cereals, peanuts, and M&Ms. Set aside.
In a microwave-safe bowl, microwave chips and oil on medium-high for 1 minute; stir. Continue to microwave in 15-second intervals, stirring until melted. Stir until smooth. Pour over pretzel/cereals/peanut/M&M mixture and mix well.
Spread onto three waxed paper-lined baking sheets. Cool; break apart. Store in an airtight container.
Makes about 5 quarts.
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