I had this at church Sunday night and they said it was fixed this way:

REINDEER MIX

MIX TOGETHER WELL:
2 cups M&M's
2 cups stick pretzels
2 cups Cherrios
2 cups small Rice Chex
1 cup peanuts
MELT:
2 lbs. white chocolate

Stir the cereal mixture into the melted chocolate. Pour out on wax paper and let cool. Break up into pieces.

It was very good and colorful for Christmas. Enjoy!