6 cups rice chex OR chocolate chex cereal
1 (12 oz) bag white vanilla baking chips (2 cups)
1/3 cup coarsely crushed peppermint candy canes (14 miniature unwrapped)

line a cookie sheet with foil or waxed paper. place cereal in a large bowl.

in a microwave-safe bowl, microwave baking chips, uncovered, on HIGH about 1 minute 30 seconds, stirring every 30 seconds, until chips can be stirred smooth. stir in half the crushed peppermint candy.

pour over cereal; toss to evenly coat. spread mixture in a single layer on the cookie sheet. immediately sprinkle with remaining candy. let Iii stand until set, about 20 minutes. gently break up coated cereal. store in an airtight container.