1 (6 oz.) pkg. butterscotch morsels
1/2 c. crunch style peanut butter
1/2 c. sifted confectioners' sugar
1 (6 oz.) pkg. semi-sweet chocolate morsels
1 tbsp. water
2 tbsp. butter
4 c. Rice Krispies cereal

In saucepan combine butterscotch morsels and peanut butter; heat until melted and mixed smooth. Add cereal. Stir well until all coated. Press HALF of cereal mixture into buttered 8 inch square baking pan. Chill in refrigerator while preparing fudge mixture (set other half of cereal aside).

Combine over hot (not boiling) water in double boiler: semi-sweet morsels, confectioners' sugar, butter and water. Stir until morsels melt and are smooth. Spread over refrigerated cereal mixture, then spread remaining cereal evenly over top and press gently. Chill 1 hour.