In a large bowl, combine the popcorn, pretzels, M&Ms, and peanuts. Give it a good toss.
In a small bowl, melt the white chocolate chips and coconut oil in the microwave in short 30-second bursts until smooth.
Pour the melted chocolate over the popcorn mixture and toss until everything is well coated.
Spread the mixture onto a lined baking sheet and refrigerate for about 30 minutes until the chocolate sets.
Once hardened, break the Christmas Crunch into pieces and enjoy the festive goodness!