Gather all ingredients and keep them ready.
In a saucepan over low heat, melt the chocolate, stirring continuously until smooth.
Stir in the peanut butter and mix until the mixture is smooth and fully combined.
Remove from heat and gently stir in the cereal until evenly coated with the chocolate mixture.
Place the confectioners' sugar into a large resealable plastic bag.
Add the coated cereal into the bag and shake well until all pieces are fully covered with sugar.
Transfer to an airtight container. Serve and enjoy
