Prepare the bundt cake pan with a generous coat of non-stick spray
In a large pot over medium-low heat, soften butter (not fully melted)
Stir in Kix cereal and mix until coated in butter
Reduce heat to low and add Peeps marshmallows
Spray your plastic mixing spoon or spatula with non-stick spray
Mix gently until the Peeps marshmallows are melted. Once they begin to melt, don't overmix! Let the colors still be seen. Overmixing reduces the amount of pastel color seen in the final cake.
Add the Kix and marshmallow mixture to the bundt can
Spray your fingertips with non-stick spray and press the cereal mixture down into the pan so it is spread evenly and flat.
Allow the Peeps bundt cake to cool for about an hour. If you're in a hurry, place the cake pan in the refrigerator for 30 minutes.
Turn the cake pan upside down over a cake plate (or serving plate) and it will slide right out of the bundt pan.
To cut into "cake slices", apply the non-stick spray to a butter knife and cut into handheld pieces. The non-stick spray prevents the knife and marshmallows from sticking together.