12 oz. pkg. butterscotch flavored morsels
1 c. peanut butter
8 c. Chex brand cereals
1 c. milk chocolate morsels

In large microwave-safe bowl combine butterscotch morsels and peanut butter. Microwave on high 1 to 1 1/2 minutes or until melted; stir until smooth. Add cereal, stirring until all pieces are evenly coated. Gently stir in chocolate morsels just until combined but not melted (chocolate will be soft). Spread on waxed paper-lined tray. Chill 30 minutes or until butterscotch coating is set.