Grab two large bowls and carefully divide your Chex cereal, placing half in each.
In a microwave-safe bowl, melt the pink candy melts with 1 teaspoon of vegetable oil. Heat in short 30-second bursts, stirring well after each, until it's wonderfully smooth.
Pour the melted pink candy over one bowl of Chex cereal. Gently fold the cereal until every piece is beautifully coated. If it thickens, a quick 15-second microwave burst can help loosen it up!
Transfer the pink-coated cereal into a large zip-top bag. Add 1/2 cup of powdered sugar, seal the bag, and shake it gently until all the cereal is evenly dusted.
Spread this festive pink puppy chow onto a baking sheet lined with wax paper and set it aside to cool.
Now, repeat steps 2-5 with the red candy melts, the remaining 1 teaspoon of oil, and your second bowl of Chex cereal, coating it with the other 1/2 cup of powdered sugar.
Let both batches of muddy buddies sit for about 30 minutes to set up. Once firm, gently combine them, then stir in your Valentine's Day M&M's and sprinkles for that extra pop of love!
Serve this delightful, homemade treat and enjoy the smiles!