Line a large sheet pan with parchment paper and set aside. Add the Chex cereal to a large bowl. Place powder sugar in a 1 gallon zip top bag.
Place the white chocolate wafers in a microwave-safe bowl and microwave in 30-second increments stirring in between, until melted. (Or you could use a double boiler method by place a glass mixing bowl over a saucepan with 1 inch of water. Heat on medium and stir constantly until melted).
Pour the white chocolate over the cereal astir to fully coat. Place half the mix into your powdered sugar bag. Shake to fully coat the cereal with your sugar.
Add the pretzels to the mixing bowl and gently fold to partial coat with chocolate. Spread the mix on the parchment paper and sprinkles and M&Ms. Add the powdered sugar coated Chex on top.
Allow the mix to rest for 20 minutes. Gently toss to break up the large chunks and serve.
Notes
See our brief tutorial on how to color powdered sugar to create the look in the final photos.
White melting chocolate will melt smoother than white chocolate baking chips. If you have the chips add 1 teaspoon of coconut oil or vegetable oil to help smooth out when melting.