Add the Chex, Pretzels, Peanuts, and 3/4 cup of the M&Ms so a large bowl and stir them together. 4 cups Rice Chex Cereal , 1 cup Mini Pretzels , 1 cup Roasted and Salted Peanuts, 1 cup Red and Green M&Ms
Add the White Chocolate Chips to a medium microwave safe bowl and microwave for 30 seconds. Stir as much as you can. Microwave in additional 20 second increments, stirring after each until you can stir the mixture smooth, and it's totally melted. 14 oz White Chocolate Chips
Pour the melted white chocolate over the cereal mixture, and stir to coat it evenly with a rubber spatula.
Pour the mixture onto a cookie sheet lined with parchment paper. Sprinkle the extra m&ms, and sprinkles evenly over the top of the mixture.
Let the mixture sit at room temperature until the white chocolate coating is set.