MICROWAVE DIRECTIONS:
In a large microwave-safe bowl, combine cereals, popcorn, peanuts and pretzels; set aside.
In a medium microwave-safe bowl, combine margarine, sugar, corn syrup and vanilla. Microwave on high for 2 minutes or until mixture is boiling, stirring after 1 minute. Pour over cereal mixture; stir until all pieces are evenly coated.
Microwave on high 5-6 minutes, stirring thoroughly with rubber spatula every minute and scraping sides and bottom of the bowl.
Spread on waxed paper to cool; stir occasionally to break up. Store in an airtight container.
CONVENTIONAL OVEN DIRECTIONS:
Preheat oven to 250 degrees F. In an open roasting pan, combine cereals, popcorn, peanuts and pretzels; set aside.
In medium saucepan, combine margarine, sugar, corn syrup and vanilla. Cook over medium heat 5 minutes or until mixture is boiling, stirring frequently. Pour over cereal mixture and stir until all pieces are evenly coated.
Bake 45 minutes, stirring every 15 minutes.
Spread on waxed paper to cool; stir occasionally to break up. Store in an airtight container.
Makes 9 cups.