Melt 1 cup of chocolate chips and ½ cup of peanut butter in a microwave-safe bowl at 50% power, stirring every 30 seconds until melted and smooth (about 1-2 minutes). Set aside to cool slightly.

In a large mixing bowl, pour 4 cups of Cocoa Puffs®. Drizzle the melted chocolate and peanut butter mixture over the cereal and fold gently.

Transfer the chocolate-coated Cocoa Puffs® to a large resealable bag, add 1 cup of powdered sugar, seal, and shake or stir until all pieces are well coated.

Add 1 cup of pretzel sticks to the sugary cereal mix and fold in using a spatula, distributing evenly without breaking.

Spread the mixture onto parchment paper and let it cool for 15-20 minutes until chocolate hardens. Break into clusters and serve.