In a large bowl, combine Rice Chex cereal, plain Cheerios, mini pretzels, M&M’s, and peanuts.
Break the white almond bark into pieces and melt in a medium pot over low heat, stirring constantly until smooth.
Pour the melted almond bark over the cereal mixture and stir until everything is evenly coated.
Spread the coated mixture in an even layer on wax paper or a parchment paper–lined baking sheet. Let set for 1 hour, then break into pieces.