Grease a 9x13 inch baking dish with cooking spray or butter.

In a medium saucepan, combine the granulated sugar and light corn syrup over medium heat. Stir until the mixture comes to a boil, then remove from heat immediately.

Add the creamy peanut butter to the hot sugar mixture and stir until fully combined.

In a large mixing bowl, pour the peanut butter mixture over the rice cereal and stir gently to coat.

Transfer the mixture into the prepared baking dish and press down evenly.

In a microwave-safe bowl, combine the chocolate and butterscotch chips. Microwave in 30-second intervals, stirring in between, until smooth and melted.

Pour the melted chocolate mixture over the pressed cereal layer and spread out evenly.

Place the dish in the refrigerator for about 30 minutes to set. Once firm, cut into squares and enjoy.