Chocolate Peanut Butter Krispies Posted by bettyboop50 6/19/01 5:19:59 am 1/2 cup peanut butter 1 cup butterscotch chips 4 cups Rice Krispies cereal 1 cup chocolate chips 1/2 cup powdered sugar 4 tablespoons butter 3 tablespoons water Melt peanut butter and butterscotch chips over low heat until just melted. Remove from heat. Add cereal, mixing thoroughly. Press cereal mixture into a well buttered 9 x 13-inch pan. Melt chocolate chips, powdered sugar, butter and water over low heat. Spoon mixture over cereal. Let cool and cut into squares.