Step 1

Line a baking sheet with wax paper, set aside for later use.

Step 2

Combine the pretzels, Cheerios, Chex, peanuts and M&M's in a large bowl.  Set aside.

Step 3

In a separate bowl, heat the white chocolate chips and oil in the microwave for one minute.  Stir, and then microwave for one more minute.  Stir until smooth and completely melted.

Step 4

Pour the melted chocolate over cereal mixture.  Mix well and then spread onto a baking pan lined with wax paper.

Step 5

Let cool for 20-30 minutes and then break apart.  Serve in a large bowl or store in an air tight container.