Cook corn syrup and sugar together in a large saucepan over medium heat, stirring to dissolve sugar. Bring mixture to a boil. Remove from heat. Stir in peanut butter; mix well. Add cereal; stir until evenly coated. Stir in 3/4 cup of the candy.
Pour into greased 13 x 9-inch pan and pat into place.
Melt chocolate and butterscotch chips together in saucepan over low heat, stirring constantly. Spread over cereal. Sprinkle remaining candy on top.
Cool at least 45 minutes, or until firm. Cut into bars.