Combine the sugar, honey and peanut butter in a large glass bowl and microwave for about 2 minutes, stirring after every thirty seconds until it is smooth and liquefied. Add the chocolate and stir again until melted. (If the chocolate doesn't melt into the liquid completely, just warm it another 30 seconds and stir again.) Add the cereal and stir to coat completely.
Transfer to a well-greased or parchment lined 6" square or 8" x 3" bread pan. (This is a small batch, so you really do need a small pan.) Press the mixture evenly into the bottom of the pan. Chill in the refrigerator until firm, about 2-3 hours. Slice into bars or cubes and store in an airtight container in the refrigerator. Enjoy!