Butterscotch Party Mix is a great new twist on party mixes, combining sweet butterscotch and chewy caramel with nuts, pretzels and cereal.
COAT 13 x 9-inch baking pan with nonstick cooking spray.
COMBINE cereal, pretzels, peanuts and caramels in large bowl. Place morsels in medium, microwave-safe bowl. Microwave uncovered on MEDIUM-HIGH (70%) power for 1 minute; STIR. The morsels may retain some of their original shape. If necessary, microwave at additional 10 to 15-second intervals, stirring just until morsels are melted. Pour over cereal mixture; stir to coat evenly.
SPREAD mixture into prepared baking pan; let stand for 20 to 30 minutes or until firm. Break into small pieces.