Line one 15in x 10in pan with waxed paper. Set aside.

In a large microwave-safe bowl combine the sugar and corn syrup. Microwave on hight for 2 minutes. Stir until sugar is dissolved.

Stir in peanut butter until blended. Add cereal, pretzels, peanuts, and M&Ms; stir until coated.

Press into prepared pan, using a piece of waxed paper or a spatula sprayed with non-stick cooking spray. Place in refrigerator for 5 minutes, this will make cutting the bars into squares much easier. Once cooled, cut bars into squares.

In a microwave-safe bowl, melt chocolate in the microwave for 1 minute; stirring until completely smooth. Dip the bottom of each bar into chocolate and place back on baking pan. Once all bars are dipped into chocolate, place pan back into refrigerator for 10 minutes, to let the chocolate set before serving.