In a very large mixing bowl, combine the Rice Chex, Corn Chex, mini pretzels, and salted cocktail peanuts. Gently toss until evenly distributed.

In a microwave-safe bowl, break the vanilla almond bark into smaller pieces and microwave in 30-second intervals until smooth.

Pour the melted almond bark over the cereal mixture and gently fold until every piece is coated.

Let the mixture cool for about 1 to 2 minutes, then fold in the M&M’s carefully.

Spread the mixture onto a lined baking sheet into an even layer.

Allow to sit at room temperature until the almond bark sets, about 30 minutes to an hour.