Heat in 30 second increments, stirring between each, until smooth.
Pour over the cereal and carefully stir to coat all of the cereal.
Place the powdered sugar in a large resealable bag and add the chocolate-coated cereal. Close the bag and shake until the cereal is coated in powdered sugar.
1 1/2 cups powdered sugar
Pour the mixture into a large serving bowl and top with M&M's and sprinkles.
1 cup red and green M&M candy, 1/4 cup red and green sprinkles
Notes
This recipe is really perfect for any holiday! Use some festive M&M's and any holiday sprinkle mix and you'll be set!