Begin by making the puppy chow. To do this, heat the chocolate chips and butter in a microwave safe bowl for 1 minute. Then stir and heat an additional 30 seconds until it's melted. Be sure to be careful removing as it will be hot.
Place the cereal in a large bowl and pour the melted chocolate over it stirring it up and combining it well.
Place the chocolate covered cereal into a plastic sealed bag and toss with the powdered sugar, making sure that the cereal is well coated.
Place the coated cereal in a clean bowl along with the remaining ingredients, combine, and serve.