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Preheat oven to 250°F (120°C).
In a large bowl, combine the mixed nuts, Cheerios, Shreddies, and pretzel sticks.
In a small bowl, whisk together the melted butter, Worcestershire sauce, garlic powder, onion powder, paprika, and cayenne pepper (if using).
Pour the butter mixture over the nut and cereal mixture and stir until everything is evenly coated.
Spread the mixture in a single layer on a large baking sheet.
Bake for 1 hour, stirring every 15 minutes, until the mixture is golden brown and crispy.
Allow to cool completely before serving or storing in an airtight container.