1 (12 oz.) pkg. butterscotch chips
1 (12 oz.) pkg. chocolate chips
1 c. peanut butter
8 c. Rice Krispies
1 c. powdered sugar
4 tbsp. butter
2 tbsp. water

Grease a 9 x 13-inch pan. Melt butterscotch chips with peanut butter over low heat until melted. Remove. Add Rice Krispies until well coated. Press 1/2 of mixture into pan. Chill in refrigerator while preparing fudge. Set rest aside.

Combine chocolate chips, sugar, butter and water. Stir over low heat until melted and well blended. Spread over chilled mixture. Spread remaining cereal over top. Press gently. Chill. Remove from refrigerator 10 minutes before cutting.