Preheat oven to 325°F.
Melt butter in 2-quart saucepan over low heat. (Or microwave in large glass bowl.) Stir in TABASCO® Chipotle Sauce, chili powder and salt until combined. Stir in cashews and cereal squares until well mixed.
Spoon mixture onto large cookie sheet. Bake 15 minutes or until mixture is toasted, stirring occasionally.
Makes 4 cups.