Preheat the oven to 300°F (150°C).

Line a large baking sheet with parchment paper.

In a large mixing bowl, combine 4 cups corn chips, 2 cups pretzels, 2 cups cheese crackers, 1 cup peanuts, and 1 cup M&M's or chocolate chips.

In a saucepan over low heat, melt 1/2 cup unsalted butter.

Add 1/4 cup Worcestershire sauce, 1 tablespoon garlic powder, 1 tablespoon onion powder, 1 teaspoon paprika, and 1 teaspoon salt to the melted butter and stir to combine.

Pour the butter mixture over the dry ingredients and toss with a rubber spatula to coat evenly.

Spread the coated mix evenly on the prepared baking sheet and bake for 15 minutes, stirring halfway through to ensure even toasting.

Remove from the oven and let cool completely on the baking sheet before serving to maintain crispness.