2 cups bite-size rice square cereal
2 cups pretzel sticks
1 cup salted cocktail peanuts
1 cup dried cranberries
1 cup candy-coated milk chocolate pieces
12 ounces vanilla-flavored candy coating, chopped, or white candy melts
In a medium microwave-safe bowl microwave the candy coating on 100% power (high) for 1 minute. Stir. Continue to cook at 15 second intervals until melted and smooth, stirring after each. Pour over cereal mixture; toss to coat.
Spread mixture on a large piece of foil. Let stand until set (about 30 minutes). Break into bite-size pieces.