In a large mixing bowl, add 6 cups of Rice Chex™ cereal along with 1 cup of cocktail peanuts. Gently stir the mixture to ensure an even distribution of the crunchy components.

In a microwave-safe bowl, place 1 cup of white vanilla baking chips. Microwave on high in 30-second intervals, stirring in between, until the mixture is smooth and creamy—about 1 to 1.5 minutes total.

Once the baking chips are melted, pour the creamy mixture over the cereal and peanuts. Use a spatula to gently fold the mixture, ensuring every piece is evenly coated.

Sprinkle in 1 cup of red candy sprinkles and 1 cup of red candy-coated chocolate candies to the bowl. Carefully mix these vibrant ingredients into your cereal mixture.

Line a large baking sheet with parchment paper and evenly spread your snack mix on top. Allow the mix to cool for about 15-20 minutes.

Once cool, break into clusters of desired size and transfer to a serving bowl or individual bags.