Cook sugar and butter in a large skillet over medium-high heat, stirring often, 2 minutes or until butter is melted and sugar is dissolved. Stir in honey until blended. Stir in cereal; cook, stirring often, 2 to 3 minutes or until cereal is lightly browned. Pour mixture onto a wax paper-lined jelly-roll pan; spread in an even layer. Let cool 20 minutes. Store in an airtight container up to 1 week.
Note: For testing purposes only, we used Post Trail Mix Crunch Cranberry Vanilla Cereal.