Separate the Chex into five equal portions and place each in a separate bowl. Set aside.
In a microwave-safe bowl, melt one color of chocolate in 30-second intervals, stirring in between, until smooth.
Pour the melted chocolate over one bowl of Chex, gently stirring with a spatula until fully coated. Add 2-3 tablespoons of powdered sugar and toss until well covered.
Spread the coated cereal onto a parchment-lined cookie sheet to dry.
Clean your spatula and repeat steps 2-4 for the remaining three colors of chocolate.
Spread the last portion of Chex on a separate parchment-lined sheet. Melt the white chocolate, drizzle it over the plain Chex, and sprinkle with marshmallow bits while still wet.
Once everything is dry, combine all the colorful Muddy Buddies, the white chocolate-drizzled Chex, and the candy-coated chocolates into a large bowl. Give it a good mix!
Serve and Enjoy!