Steps:
- Melt chocolate morsels, butterscotch morsels and peanut butter together in large saucepan over very low heat, stirring constantly until smooth. Remove from heat.
- Add cereal and peanuts. Stir until well coated. Drop by level measuring-tablespoon onto waxed paper or buttered baking sheets. Refrigerate until firm.
- Variation: Mixture may be pressed into buttered 9x9x2-inch pan. Cut into squares when firm.
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