Add the chex cereal to a large mixing bowl.

To a microwave safe bowl, add the green candy melts and peanut butter.

Microwave for 30 second increments, stirring very well in between, until melted.

Pour this mixture over the chex cereal and toss to coat.

Add 1 cup powdered sugar to two large gallon Ziploc bags.

Add half of the coated chex to one bag, and shake well to coat with the powdered sugar.

Repeat this with the remaining coated cereal in the other powdered sugar bag, until all of the cereal has been coated in sugar.

Dump the sugar coated chex onto a large baking sheet lined with parchment, and allow the candy 1 hour to set.

Before serving, add green M&Ms and festive sprinkles to the mix.