2 cups corn chex
2 cups miniature pretzels
1 cup dry roasted peanuts
20 caramels, coarsely chopped
1 package (10 to 12 ounces) white baking chips
In a large bowl, combine the first four ingredients. In a microwave, melt chips; stir until smooth. Pour over cereal mixture and toss to coat.
Immediately spread onto waxed paper-lined baking sheet; let stand until set, about 20 minutes.
break into pieces. Store in an airtight container.