16 oz. pkg. butterscotch morsels
1/2 c. crunchy peanut butter
4 c. Rice Krispies
1 (6 oz.) pkg. semi-sweet chocolate chips
1/2 c. confectioners' sugar
2 tbsp. butter, softened
1 tbsp. water

Melt butterscotch and peanut butter over low heat, stirring constantly until smooth. Add cereal and stir until well coated. Press half of mixture into buttered 8 inch square pan. Chill. Prepare fudge mixture; melt chocolate chips, confectioners' sugar, butter, and water in a double boiler; stir until smooth. Spread chocolate over chilled cereal mixture. Spread remaining cereal mixture over top. Press gently and refrigerate until firm. Cut into squares.