12 oz. butterscotch chips
1 1/2 c. butter
3/4 c. peanut butter
1 (12 oz.) box Rice Chex cereal
1 box confectioners' sugar

Melt and mix first 3 ingredients and pour over Rice Chex. Toss gently until coated. Put sugar into bag. Add Rice Chex mixture. Shake until coated. Chill.