Place white chocolate chips in a microwave safe bowl. Microwave for 30 seconds at a time until melted; about 1½ minutes. Add melted coconut oil or shortening for thinning, if needed.
Place Chex cereal in a large bowl. Pour melted chocolate over the top. Fold gently until cereal is coated.
Place lime gelatin powder and powdered sugar in a zip-top bag. Pour half the cereal into the bag. Shake until coated. Empty the coated cereal into a large serving bowl. Repeat with second half of the cereal. Fold the Golden Grahams cereal in with the muddy buddies. Sprinkle with lime zest if desired. Enjoy! Store leftovers in an airtight container or zip-top bag.