Line a baking sheet with parchment paper. Set aside.
Add peanut butter, butter, and white chocolate chips to a small microwaveable bowl. Place in microwave for about 30 seconds on high. Remove and stir for at least 30 seconds. If the chips haven't melted all the way, place them back in another 10-15 seconds. You want it to be melted, but not really hot, so be mindful of that.
Once it is all melted, add in food coloring. I prefer the gel, or even a powder as opposed to the liquid color, as I don't like how much the liquid coloring waters it down. Set aside.
In a large bowl add your Chex. Pour the white chocolate/peanut butter over Chex and mix well. In this recipe, I added a much higher ratio of Chex to the mixture. Just remember, you only need enough of the mixture to LIGHTLY coat the Chex, not too much. Pour and spread this mixture out onto the sheet pan. Allow it to set for about 5-10 minutes.
In a large, gallon-sized ziplock bag, place powdered sugar at the bottom. Add all the chex mix to the bag. Zip closed and shake carefully to cover all the coated Chex in powdered sugar. Make sure that bag is closed, this can really ruin your day if it's opened when you start shaking!!
Spread on the sheet pan again. I sprinkled it with my green sprinkles, it is hard to tell in the photos though. You can also sprinkle on your green candies at this point.
Allow to sit for a bit, then store or serve as desired. Ours held really well for the 3 days it took us to eat them, just make sure they are in air-tight containers.