Line a baking sheet with parchment paper to prepare for cooling the puppy chow.
In a large mixing bowl, measure out 9 cups of Rice Chex cereal and set aside.
In a microwave-safe bowl, combine the white chocolate chips and cream cheese. Heat in the microwave for 30 seconds at a time, stirring in between, until melted and smooth.
Add the cherry flavoring to the melted chocolate mixture and mix until well combined.
Pour the melted mixture over the Rice Chex cereal and gently stir with a spoon or spatula until all the cereal is well coated.
Sprinkle the salt over the mixture and mix again to incorporate.
In a Ziploc bag, combine the powdered sugar and chopped cherry gummies or candies. Add the coated cereal to the bag and gently shake until evenly coated with the powdered sugar mixture.
Spread the coated puppy chow onto the prepared baking sheet to cool for about 30 minutes.
Optional: Once cooled, add red sprinkles on top for a festive touch.