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Puppy Chow

1 stick butter
6 oz semi-sweet chocolate chips
6 oz milk chocolate chips
1 cup peanut butter
1 box Crispix or Chex cereal
1 lb powdered sugar

Melt butter, chocolate chips, and peanut butter together in a saucepan over low heat.  Combine with cereal until well coated.  Put mixture in a large paper bag with powered sugar.  Seal and shake well.  Put in freezer to set and keep chilled.