“Had these at a wedding shower and they were so yummy! My friend said she clipped this recipe from a Kraft advertisement that appeared in a magazine about 30 years ago. She uses rice krisp cereal so not sure what it would be like with a toasted oat cereal.”

Ingredients Nutrition

  • 1 (14 ounce) bag caramels
  • 3 tablespoons water
  • 5 cups crisp rice cereal or 5 cups toasted oat cereal
  • 1 cup peanuts
  • 1 cup semi-sweet chocolate chips
  • 1 cup butterscotch chips


  1. Melt caramels with water in a saucepan over low heat. Stir frequently till caramels are melted and sauce is smooth.
  2. Toss cereal and peanuts together in a bowl. Pour the melted caramel sauce over the mixture and toss until well coated.
  3. With buttered fingers, press the mixture into a greased 13 x 9 inch baking pan. Sprinkle chocolate and butterscotch chips on top and place in a 200F oven for about 5 minutes or until chips are softened. Spread the softened chips to blend slightly and form a frosting over the top. Cool and cut into bars. Cut into 30 bars or in sizes as desired.

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