Preheat your smoker to 250°F.
Place 9 cups of Chex cereal in a large bowl.
Add in 5 cups of crunchy snacks.
Mix in 1 cup of roasted peanuts.
In a small saucepan, melt 8 tablespoons of unsalted butter.
Stir in Worcestershire sauce, prepared horseradish, Dijon mustard, seasoned salt, garlic powder, smoked paprika, paprika, onion powder, and cayenne pepper.
Pour the warm cowboy butter over the cereal mixture and gently toss until everything is evenly coated.
Transfer the mix to a large foil tray or 2 rimmed baking sheets, spreading it out in an even layer.
Smoke at 250°F for 1 hour, stirring every 15 minutes.
