Start by adding the chocolate melting wafers to a microwave-safe bowl and microwaving for 45 seconds. Stir, then microwave for another 45 seconds. If the chocolate isn’t fully melted at that point, microwave in 15-second increments, stirring in between, until fully melted.

Pour the Chex cereal into a large bowl, then add the melted chocolate to the cereal and gently stir with a rubber spatula until evenly coated.

Sprinkle the powdered pudding mixes onto the coated cereal and toss until fully covered.

Let the muddy buddies set for 10-15 minutes to allow the chocolate to harden.

Once set, combine the muddy buddies with popcorn, candies, and chocolate-covered peanuts in a large bowl. Mix gently.

Serve immediately or store leftovers in an airtight container.