1 stick butter
1 c. peanut butter
1 bag butterscotch chips
3/4 box Rice Chex

Melt butter in large pan. Add peanut butter. Melt until smooth. Add butterscotch chips. Melt until smooth. Pour cereal into liquid mixture and mix until well coated. Pour out onto a cookie sheet. Let cool about 1 hour.

Place mixture in a plastic bag (by cupfuls) with about 1/4 cup powdered sugar in it. Shake until "chow" is well coated. Continue mixing sugar and mix until done. Store in an airtight container. Fills 1 large Tupperware bowl.