- Combine sugar and karo syrup in a stock pan and bring to a rolling boil (the point when it “just” starts to boil or the bars will be hard and not soft and chewy).
- Stir in the peanut butter (if you spray your measuring cups with PAM the peanut butter comes out easier and won't stick).
- Mix well and then fold in the Special K cereal.
- Spread cereal mixture in a 13x9 inch pan (grease bottom only – or spray with PAM).
- Melt the chips together (in a double-boiler or in the microwave) and then spread on top.
- Let set and then cut.