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Preheat the oven to 300°F.
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Melt the butter, brown sugar and vanilla in a sauce pan with constant whisking on medium heat.
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It should look life caramel when done.
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In a VERY large bowl, add the Chex cereal, pretzels and peanuts
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Pour the sauce over the mixture and toss gently until evenly coated.
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Line two large baking sheets with parchment paper.
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Divide mixture on the two baking sheets and spread in even layers.
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Bake for 45 minutes and stir every 15 minutes.
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Remove from the oven and allow it to cool.
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Add the mixture to a large bowl, along with the candy corn and M&M's and mix together.
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Store in a large ziplock bag or bag in 16 individual bags.
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I got 1 1/2 cups for my 16 bags.