Line a cookie sheet with parchment paper or a non-stick silicone mat.
Microwave pink frosting and 1/4 cup white chocolate chips in 20-second intervals, stirring until smooth. Add a teaspoon of shortening or coconut oil if needed.
Gently fold 2 cups of Chex cereal into the melted pink chocolate until fully coated.
Place 1/2 cup confectioner’s sugar in a large zip-top bag, add the pink-coated cereal, seal, and shake until evenly coated.
Spread the sugar-coated cereal on the prepared cookie sheet to dry.
Repeat the process using red frosting to make red snack mix.
Let both snack mixes dry completely