Step 1

Line 13 x 9-inch baking pan with foil; grease foil with butter.

Step 2

Heat 1 cup milk chocolate morsels, 1/4 cup butterscotch morsels and 1/4 cup peanut butter in small saucepan over low heat, stirring frequently, until melted. Spread chocolate mixture over bottom of prepared baking pan; cover. Refrigerate for 20 minutes or until set.

Step 3

Melt butter in heavy-duty saucepan over medium heat. Add sugar and evaporated milk; heat to a boil. Cook, stirring occasionally, until sugar is dissolved. Reduce heat until mixture comes just to a boil. Heat for 5 minutes (do not stir); remove from heat. Stir in marshmallow creme, 1/4 cup peanut butter and vanilla extract. Stir in peanuts. Carefully spoon marshmallow layer over chocolate layer; cover. Refrigerate for 20 minutes or until set.

Step 4

Heat caramels and cream in medium saucepan over low heat, stirring frequently, until caramels are melted and mixture is smooth. Spread caramel mixture over marshmallow layer; cover. Refrigerate for 15 to 30 minutes or until set.

Step 5

Heat remaining 3/4 cup milk chocolate morsels, remaining 1/4 cup butterscotch morsels and remaining 1/4 cup peanut butter in small saucepan over low heat, stirring frequently, until mixture is smooth. Spread over caramel layer. Refrigerate for at least 2 hours or overnight.

Step 6

Use foil to lift candy from baking pan; remove foil. Cut into 1-inch pieces. Store in airtight container in refrigerator for up to 1 week.