Preheat oven to 180°C. Line a large baking tray with baking paper.
Combine cereal, pretzels, nuts, soup mix, pepper and oil in a large bowl. Toss well to coat. Spread over prepared baking tray.
Bake for 15 minutes, stirring every 5 minutes, or until hot and crisp. Set aside to cool completely. Store in an airtight jar.
Notes
You could add a variety of other ingredients of your choice, such as a different cereal (just make sure the pieces are large enough to be picked by hand)