01 -  Line a large baking sheet with parchment paper or wax paper to prevent sticking. 
 02 -  In a large mixing bowl, add Rice Chex, Corn Chex, pretzel twists, roasted peanuts, and Cheerios. Toss gently to mix. 
 03 -  Place white chocolate chips and coconut oil in a microwave-safe bowl. Heat in 30-second intervals, stirring after each, until melted and smooth; typically 1 to 2 minutes in total. 
 04 -  Pour melted white chocolate over the cereal mixture. Fold quickly and gently with a spatula until all components are evenly coated. 
 05 -  Incorporate M&M's and sprinkles into the coated mixture. Mix briefly to distribute. 
 06 -  Spread the mixture onto the prepared baking sheet in an even layer. Allow to cool at room temperature until chocolate is set, about 30 minutes, or refrigerate for 10 to 15 minutes to expedite setting. 
 07 -  Once the coating is firm, break into clusters and transfer to an airtight container for storage.