Caramel Morsel Bars

In a large microwaveable bowl, place unwrapped caramels and water. Microwave until caramels are melted, about 3 – 4 minutes. Stir to smooth.

Pour the cereal into the caramels and stir until well coated. Pour cereal mixture into 9×13 inch pan and pat down with greased fingers. Sprinkle butterscotch and chocolate chips over cereal mixture. Place in a 250-degree oven for about 15 minutes to soften chips. When soft, spread chips to combine and smooth to make a frosting. Let set up. Slice into bars and eat up!