Line a rimmed sheet pan or cookie sheet with parchment paper. Set aside.
In a gallon-sized food storage bag (like Ziploc), add the powdered sugar, hot chocolate mix, and cocoa powder. Mix the ingredients with a whisk, or seal the bag and shake it gently. Set aside.
Measure out the Chex cereal and place it in a large mixing bowl.
In a small microwave-safe bowl, add chocolate chips, butter (cut into chunks), and coconut oil. Microwave for 30 seconds and immediately stir together. Continue to microwave in 15-second increments, stirring between each one, just until smooth and completely melted. Note: Be careful to stir between intervals and not to overheat, as microwaved chocolate can easily seize if overheated.
Add 1 teaspoon of vanilla extract to the chocolate mixture and stir to combine.
Pour the melted chocolate over the Chex cereal, and use a silicone spatula to gently fold it in until the cereal is completely coated.
Add the chocolate-covered cereal to the Ziploc bag of dry ingredients. Seal the bag and shake (in all directions) until it is completely coated in the sugar mixture.
Spread the finished muddy buddies onto the prepared cookie sheet to cool for about 30 minutes (or until room temperature).
Once the cereal mixture is completely cool, add 1 cup of mini marshmallows and stir gently to combine.
Serve and enjoy, or package in cellophane bags for a charming food gift!
Notes
*Coconut oil: We recommend using refined coconut oil, as it does not contain any coconut flavor. If you do not have coconut oil, shortening may be used instead. Gluten-free: Many varieties of Chex cereal are gluten-free, including the rice and corn versions. Most hot chocolate mixes are gluten-free as well, but be sure to check the packaging, especially if they are claiming to be "malted", which often contains barley. Storage: Transfer cooled Muddy Buddies to a large airtight container or food storage bag. Store at room temperature for up to 4 days, or in the refrigerator for up to 2 weeks. They lose a little bit of their crunch in the refrigerator, but still taste great!Additional Mix-ins: If you like, you can add other candies or ingredients after the mix has cooled completely to room temperature. Here are some ideas:
Chocolate chips
Holiday candies
M&m’s
Dehydrated marshmallows (instead of mini marshmallows; use about half as much)