In the top of a double boiler over simmering water, melt the butterscotch chips and peanut butter, stirring often, until smooth.
In a large bowl, toss together the chow mein noodles and peanuts.
Pour the melted butterscotch mixture over the noodles and peanuts. Stir until fully coated, scraping the bowl to avoid dry spots.
Drop large spoonfuls onto a parchment-lined baking sheet.
Refrigerate for 1 hour, or until set.
If your home regularly runs above 80F, store in the fridge only.
Notes
Contains peanuts and peanut butter; label clearly if serving at a gathering.
Storage: Airtight container, room temperature (under 80F) for a few days, or refrigerate for longer.
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