My Mother found this recipe and has passed it on to us. I used it for my son's turns at treats on his ball teams when he was younger - about a cup for each child in a zip-lock bag. Youth group parties, family get-to-gathers, church dinners, etc. Now, I take 3 recipes of it to work and bring nothing home! I work in a nursing home and the personnel and the "little people" love it. (I serve it in a 2 gallon stainless milk bucket my Aunt gave me!) I love the looks when you tell someone it is Puppy Chow - those dogs eat pretty well.
Melt together and stir next 3 ingredients. Toss over chex until each piece is coated.
Toss powdered sugar over that mixture until coated.