Steps:
- In a large microwave-safe bowl, heat caramels, water, and 1/2 cup of the peanut butter on HIGH for 1 minute and 30 seconds. Stir well and microwave 1-2 minutes longer or until melted. Stir well.
- Add cereal and peanuts; stir until coated. Spread into a greased 9x13 pan. Set aside.
- In another microwave-safe bowl, heat chocolate chips, butter, and remaining peanut butter on HIGH for 30-60 seconds, or until melted. Stir well. Spread evenly over the cereal mixture. Refrigerate before cutting. Enjoy! Notes: Microwave ovens vary, so cooking time may as well. I keep these in the fridge, because at room temp they tend to get too soft.
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