14 oz. bag of caramels
3 tbsp. water
5 c. Rice Krispie cereal
1 c. peanuts
6 oz. pkg. chocolate chips
6 oz. pkg. butterscotch chips

Melt caramels over low heat. Stir until smooth. Pour over cereal and peanuts. Toss until well coated. Press into greased 9 x 13 inch pan. Sprinkle chips on top. Place in 200 degree oven for 5 minutes or until chips are soft enough to spread. Spread until blended, making frosting. Cool and cut into bars.