You can change the candy to fit the season ... red, pink and white for Valentine's Day; shades of green for St. Patrick's Day; pastels for Easter; red, white and blue for 4th of July; brown and orange for Halloween; and red and green for Christmas!
Place vanilla chips in microwave-safe container and melt (approximately 1 minute at a time). Remove from microwave and stir till smooth. Pour Rice Chex into large glass bowl and then pour melted vanilla chips over. Stir to coat. All pieces of cereal do not have to be coated. Spread on a wax paper covered cookie sheet to dry. Place chocolate chips in microwave-safe container (you can use the same container as it won't matter if they are combined a bit). Pour Corn Chex into large glass bowl and then pour melted chocolate chips over dry cereal. Mix to coat and spread on wax paper covered cookie sheet to dry. Chocolate covered cereal and vanilla covered cereal can now be sprinkled with nonpareils if desired.
While you are waiting for cereal to set up, mix the following ingredients: vanilla covered raisins, pretzel sticks; honey roasted peanuts; plain M & M's and peanut M & M's. When cereals are dry, combine cereal mixture and candy mixtures.
Store in airtight container. I put the snack mixture in "take-out" boxes with valentine day hearts to give as small gifts.