In large bowl, cream butter or margarine and sugar until light and fluffy. Add egg and vanilla; beat until well blended. Add flour, salt, and baking soda, mixing well. Stir in cereal and butterscotch chips.
Drop by heaping tablespoon onto greased cookie sheet.
Bake at 350 degrees F (175 degrees C) for 12-15 minutes, until lightly browned. Remove cookies to cool on racks.