Steps:
- HEAT oven to 350 degrees F. Line rimmed baking sheet with foil.
- COMBINE butter, peanut butter, vanilla and cinnamon in a microwave-safe bowl. Microwave on HIGH (100% power) 35 to 45 seconds, stirring until well blended.
- COMBINE cereal, mixed nuts and pretzels in large bowl. Pour butter mixture over cereal mixture. Toss well to coat. Spread mixture evenly on foiled baking sheet.
- BAKE 10 to 12 minutes, stirring occasionally. Cool. Sprinkle lightly with cayenne pepper, if desired. Toss. Store in resealable food storage bag.
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