Preheat your oven to 250°F (120°C). Line a large baking sheet with wax paper or parchment paper for easy cleanup.
In a medium saucepan over low heat, combine the unsalted butter and white chocolate chips. Stir frequently until melted and smooth.
In a large mixing bowl, combine the Rice Chex and Cinnamon Chex cereals. Pour the melted butter and chocolate mixture over the cereals, gently folding until coated.
In a separate bowl, whisk together the powdered sugar, granulated sugar, and ground cinnamon.
Sprinkle the cinnamon-sugar mixture over the coated cereals, tossing gently to ensure every piece is covered.
Spread the Chex mix evenly on the prepared baking sheet. Bake for 30 minutes, stirring every 10 minutes.
Once cooled, break the Churro Chex Mix into clusters and enjoy! Store leftovers in an airtight container at room temperature.