Line a 9x13 baking pan with parchment paper.
Place your Chex, M&M's, peanuts and pretzels over the parchment paper.
In a double boiler or in the microwave, melt white chocolate and coconut oil until smooth. Remove from heat.
Pour chocolate over the cereal mixture and using a spatula, mix the chocolate until evenly coated.
Once the chocolate is well distributed, top with your sprinkles.
Place in the refrigerator and chill for 30 minutes before breaking apart into chunks.