Heat oven to 300°. In large bowl, combine cereals, peanuts and pretzels.
In small bowl, combine all remaining ingredients; mix well. Pour over cereal mixture; toss until evenly coated. Spread in ungreased 15x10x1-inch baking pan or shallow roasting pan.
Bake at 300°F. for 15 minutes, stirring once. Cool 20 minutes or until completely cooled. Store in tightly covered container.