White Chocolate Party Mix

In the top of a double boiler over simmering water, slowly melt the white chocolate. In a large bowl, combine cereals, pretzels, peanuts and candy coated chocolates. Slowly pour the chocolate over the cereal mixture and stir to evenly coat.
Spread the mixture onto wax paper and cool. Break into small pieces, store in an air-tight container and refrigerate to keep fresh.