Stir candies, cereal, pretzels and peanuts together in a large bowl.
Fill a saucepan 1/4 of the way with water. Set a frying pan on top of the saucepan. Place the white chocolate in the frying pan.
Turn the burner to medium-high heat. Stirring constantly, melt the chocolate until smooth. (Alternatively, place chocolate in a small microwavable bowl. Add 1/2 tsp. of coconut oil. Microwave in 20 second intervals, stirring between each interval, until chocolate is smooth.)
Pour the melted chocolate over the cereal mixture and toss to thoroughly combine.
Spread the snack mix onto an ungreased baking sheet. Allow to set at room temperature for at least 1 hour. Once completely cooled and set, break the snack mix up into smaller pieces and enjoy.