12 oz. pkg. butterscotch chips
12 oz. box Rice or Wheat Chex cereal
1 c. peanut butter
2 c. powdered sugar
1/4 c. butter

Place peanut butter, chips and butter into skillet, melt over low heat. Stir together well. Pour over cereal in a large bowl. Stir together to mix well. Place the powdered sugar in a large brown paper bag and add the cereal mixture. Shake well to coat all the cereal. Pour out onto waxed paper and let cool. Break apart into bite sized pieces and serve.