Combine peanut butter and peanuts in a large mixing bowl.
Heat the sugar and corn syrup over a medium heat and stir constantly until the sugar is dissolved. Pour this mixture into the bowl with the peanut butter; mix well.
Pour cereal mixture into the liquid mixture; mix well. Press the mixture into an ungreased 10x15 inch pan.
Melt the butterscotch and chocolate chips over a medium-low heat; mix well. Spread the mixture over the pan of cereal mixture. Let cool before cutting into bars.
