1Spread 1/2 cup chopped peanuts into a 9-inch circle on a lightly greased baking sheet. Coat top 2-inches of a 2-1/2-quart microwave-safe glass bowl with butter; place remaining butter in bowl. Add sugar and 1/4 cup water to bowl. (Do not stir.) Microwave at HIGH 8 minutes or just until mixture begins to turn light brown; carefully pour over peanuts on baking sheet. Sprinkle with chips; let stand 1 minute. Spread melted chips evenly over peanut mixture, and sprinkle with remaining 1/4 cup chopped peanuts. Chill 2 hours or until firm. Break into bite-sized pieces. Store in an airtight container.
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