In a medium saucepan, pour in the 1 cup light corn syrup and 1 cup granulated sugar. Turn heat to medium and stir together until sugar dissolves and mixture begins to boil. Remove from heat. Stir in the creamy peanut butter and mix well.
Stir in the 5 cups of crispy rice cereal until thoroughly combined and coated. Pour mixture into a greased 9×13-inch baking dish and spread out evenly. Set aside and allow to cool for 10 minutes.
Meanwhile, in a microwave-safe bowl, melt the butterscotch and milk chocolate chips at 30 second increments until melted. Stir and then pour evenly over the mixture in pan. Allow to cool completely.
Once cooled and topping is set, cut into bars and serve. Enjoy! ♥