1 – 14 oz. caramels
3/4 C. peanut butter, divided
1 C. semi-sweet chips
1 C. salted peanuts
1/4 C. water
4 C. Cheerios
1/2 C. butter
Directions
Heat caramels, water and 1/2 C peanut butter. Stir. Add cereal and peanuts. Stir until coated. In another bowl, heat chips, butter and remaining peanut butter. Spread over cereal mix. Refrigerate before cutting