My variation on an old recipe (Hot Buttered Cheerios).  This adds a little more flavor and some protein.

• 6 tbsp butter, margarine, or oil
• 1 tbsp Worcestershire sauce
• 1 tsp garlic powder
• 1/2 tsp onion powder
• 1/2 tsp white pepper
• 1 can cocktail peanuts
• 8 cups Cheerios

Melt butter or margarine in large bowl or roasting pan in 300 degree oven (omit this step if using oil). Add Worcestershire and seasonings and stir until blended. Pour in peanuts and stir until coated very well. Add cereal and stir until all pieces are coated evenly. Bake 20 minutes, stirring every 5 minutes. This mix will not need spreading and cooling like party mix, since the Cheerios do a good job of soaking up the liquid and drying quickly.