Step 1: In a pot, over medium heat, combine peanut butter with corn syrup and butter, stir until smooth. Stir in cereals and peanuts, remove from heat.
Step 2: Place mixture in a buttered 8" x 8" pan. Melt chocolate chips with butter and spread over the cereal and peanut butter mixture. Refrigerate for a few hours until chocolate is firm.
Step 3: Cut into squares.
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