These are a regular on the Xmas sweets tray. They are always a hit. You can also use ground gluten free graham wafers instead of the chex cereal. Both work well.
These freeze quite well so you can make them ahead of time ;)
1 1/4 cup icing sugar
3/4 cup peanut butter
3 tablespoons margarine
1/2 cup ground Chex cereal
Mix first 4 ingredients together and form into balls.
Melt the chocolate chips in a double broiler.Coat the balls with melted milk chocolate and place on a parchment paper lined cookie sheet.
Allow to harden in the refrigerator.