1 (6 oz.) semi-sweet chocolate chips
1 (6 oz.) butterscotch morsels
1 can sweetened condensed milk
1 c. chopped nuts
1/2 tsp. vanilla
1 c. nut halves

Melt chocolate chips and butterscotch with milk. Remove from heat and add vanilla and chopped nuts. Cool 1 hour. Place nut halves in circle on pan. Spoon mixture on nuts to make ring; decorate with nuts and cherries if desired. Chill and cut.