Add the chocolate chips and peanut butter to a microwave-safe mixing bowl. Cook on high for 30 seconds, take out of the microwave, and stir together. Repeat until the chocolate is totally melted and you can mix it smoothly into the peanut butter.
1 c semisweet chocolate chips, 1 c creamy peanut butter
Measure your cereal into a large bowl. This can be messy to mix, so the larger the better.
6 c plain Chex cereal
Pour your melted chocolate and peanut butter mixture over the cereal while it's still hot. Stir until each square of Chex is evenly coated.
Add the powdered sugar to the bowl, and stir once again to coat each square in sugar.
1 ½ c powdered sugar
Puppy chow can be eaten immediately, or put it into an airtight container and it will last up to a week!