Tiny pretzel sticks can be substituted for the twists.
In large microwavable bowl, place the cereals, pretzels, and peanuts; set aside.
In a 2-cup microwavable measuring cup, microwave the brown sugar, butter, and corn syrup uncovered on high setting until melted and smooth, about 2 minutes, stirring after 1 minute. Stir in the baking soda until dissolved. Pour over the cereal mixture, stirring until evenly coated.
Microwave uncovered on high, stirring and scraping bowl every 30 seconds, just until cereal begins to brown, 1 to 2 minutes. Cool 5 minutes; stir in the candies. Spread on waxed paper to cool; break into bite-size pieces. Place in gold foil baking cups if desired. Store in an airtight container.