- 1 (14 ounce) package caramels
- 1/4 cup water
- 3/4 cup peanut butter, divided
- 4 cups Cheerios® cereal
- 1 cup salted peanuts
- 1 cup semisweet chocolate chips
- 1/2 cup butter or margarine, softened
- In a large microwave-safe bowl, heat caramels, water and 1/2 cup peanut butter on high for 1 minute; stir. Microwave 1-2 minutes longer or until melted. Add cereal and peanuts; stir until coated. Spread into a greased 13-in. x 9-in. x 2-in. pan; set aside.
- In another microwave-safe bowl, heat chips, butter and remaining peanut butter on high for 30-60 seconds or until melted. Spread over cereal mixture. Refrigerate before cutting.