Line a 9 x 13 baking sheet with parchment paper.
Place the green candy melts in a bowl and microwave in intervals of 30 seconds, stirring after each addition, until the candy is melted. Quickly stir in the mint extract.
Pour the candy on top of the cereal and toss to coat.
Quickly pour the powdered sugar in a gallon bag and then pour the cereal into the bag. Zip it closed then shake to coat the cereal.
Pour the cereal out onto the parchment paper and sprinkle with the M&M's. Let the cereal sit on the baking sheet for 30 minutes for the candy to harden.
Store in an air tight container.