1. In two large bowls, pour 4 cups cereal in each.
2. In two small microwaveable bowls, pour in: 1/4 cup butter, 1/2 cup peanut butter, 1 cup of chocolate chips. (One white, one semi sweet). Microwave for 30-60 seconds smooth.
3. Pour over cereal, and carefully stir to coat.
4. Add 2 cups powdered sugar to each bowl, place on the lid, and shake to coat the cereal in powdered sugar.
5. Combine both puppy chows!