2 c. caramel candies
1 1/3 c. white sugar
1 c. butter
1 c. honey

In saucepan over low heat, combine caramels, sugar, butter, and honey; stir constantly until sugar dissolves and caramels melt. Remove from heat.

Add peanut butter to warm liquid; stir until melted.

Place cereal in large bowl. Pour warm liquid over cereal; stir to coat. Press mixture firmly and evenly into 12 x 20 x 2 1/2 inch steamtable pan. Refrigerate until firm, approximately 1 hour. Remove from refrigerator approximately 10 minutes before cutting. Cut 6 x 10. Store, covered, in refrigerator.