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Line a 9 X 13 cake pan with parchment paper.
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Place the white fudge covered pretzels into a gallon sized Ziploc bag and brake into pieces by hitting them with a rolling pin.
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In a large mixing bowl toss or stir to combine cereal and pretzels.
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Melt butter in a large sauce pan. Add marshmallows and stir constantly until they are completely melted.
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Remove sauce pan from heat.
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Add cereal, pretzels, and M&Ms to marshmallow mixture (add M&Ms last so they don't melt and discolor everything).
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Stir and turn cereal in marshmallow mixture until all cereal is well mixed and coated.
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Pour the cereal mixture into lined pan try to spread out evenly.
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Press down a little (not too much or they will get too dense) with your hands. (I coated my clean hands in canola oil before handling the mixture, because it is extremely sticky)
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Let treats sit for about 1 hour to cool.
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Break white chocolate bars into small pieces.
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Place chocolate in a small microwave bowl and microwave at high heat for 30 second intervals (stirring in between) until chocolate is completely melted and smooth.
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Add melted butter and food coloring. Stir to incorporate.
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Scrape all chocolate into a small Ziploc bag.
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Snip a small corner off the bag and drizzle the pink chocolate over the treats.
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Once chocolate sets a little cut into squares and EAT!