Microwave sugar and syrup on high for 3 minutes; stir.
Cool 1 1/2 minutes and add peanut butter, blend well. Microwave 2 minutes; stir well.
Add cereal, stir until well coated. Press into 9x13 pan.
Melt chips together. Spread over cereal mixture.
Cool. Cut into squares.
Recipe submitted by Arnold on 9/20/00