Separate the Chex cereal into 5 equal amounts and put each of them into bowls and set the bowls to the side.
Place one color of the candy melts in microwave safe bowl and melt it in 30 second intervals until it is completely melted but not overheated. Overheating will cause it to not set up at room temperature.
Pour the melted candy over one of the bowls of Chex mix and mix with a spatula until the Chex cereal is completely covered in the melted candy.
Put 2-3 tablespoons of powdered sugar on the chocolate covered Chex and mix until the all the Chex mixture is fully covered.
Pour the candy covered mixture on to a cookie sheet lined with parchment paper to set.
Repeat these steps for the following three colors and put them on the same cookie sheet. Be sure to clean the spatula in between each new color of candy melts.
Spread out the last bowl of Chex cereal on a smaller sheet of parchment paper.
Melt the white chocolate at 30-second intervals in the microwave until fully melted, but not too hot. Put the chocolate in a piping bag, cut a small hole in the tip and drizzle it over the plain Chex cereal.
While the drizzle is still wet, sprinkle the marshmallow bits and Easter M&Ms over the Chex.
Mix all of the different colored Chex with the white chocolate Chex, marshmallow, and M&Ms mixture in a large bowl.
Serve in a serving bowl or portion into individual bags to give as treats.