1 (14 oz.) bag caramels
3 tbsp. water
5 c. Rice Krispies
1 c. peanuts (optional)
1 (6 oz.) pkg. semi-sweet chocolate chips
1 (6 oz.) pkg. butterscotch chips

Unwrap caramels and melt in microwave with the water. In a large mixing bowl, mix the cereal, peanuts and melted caramels and stir until thoroughly coated. Press mixture into a greased 9x13 inch pan. Sprinkle chocolate and butterscotch chips on top. Place in a 250 degree oven for 5-7 minutes. Spread softened chips to form a frosting. Cool and cut into bars.