Break up pretzel sticks by hand and sprinkle on a cookie sheet along with the peanuts, and 1 cup of the M&M's.

Heat the white chocolate according to package directions.

Quickly pour melted chocolate evenly over peanuts, pretzels and M&M's. Sprinkle with remaining M&M's and red, white, and blue sprinkles.

Place in the refrigerator until hardened. Break into pieces and store in an airtight container in the refrigerator or freezer until ready to eat.