Measure cereal into a large bowl. Set aside. Divide powdered sugar between two ziplock bags (or re-use the empty cereal bag), adding 1 cup to each bag.* Set aside.

In a microwave add chocolate chips, butter, and peanut butter (and salt, if using unsalted butter) and cook 20 seconds at a time until just melted (Don’t over-heat it–just warm it until melted and smooth.)

Pour over the prepared cereal in the bowl and stir to coat evenly. Allow to cool for a few minutes.

Divide coated cereal between the two ziplock bags (or the leftover cereal bag) with powdered sugar, seal the bag and shake to coat the cereal.

Muddy buddies will stay fresh for up to 1 week stored in an air-tight container at room temperature or can be frozen for up to 2 months.