Line an 8×8 pan with parchment paper and spray with non-stick cooking spray. Set aside.
Heat granulated sugar and corn syrup in a large, heavy saucepan over medium heat, stirring continually, until mixture comes to a rolling boil.
Stir in peanut butter and remove from heat. Set aside.
Add Rice Krispies to a large bowl. Pour peanut butter mixture over the cereal and mix to combine.
Spread the mixture evenly in the prepared pan. Set aside.
In the microwave, melt the chocolate and butterscotch chips in a large glass bowl (or two separate bowls). Heat for 1 minute and stir. Then heat in 30-second intervals, stirring in between, until completely melted.
Pour chocolate-butterscotch mixture over the cereal layer and spread evenly. Refrigerate for 2 hours or until chocolate hardens.
Remove from refrigerator, slice into 9 bars, and serve. Enjoy!