Line 2 large sheet pans with wax paper. Set aside.
Truffles: In a large heavy bottomed saucepan, melt together the light corn syrup and sugar.
Cook over medium-high heat stirring until the sugar has completely dissolved.
Bring the mixture to a boil then remove from the heat. Add the peanut butter stirring until fully incorporated with the syrup mixture.
To the pot add the cereal. Mix lightly then add the chocolate chips and chocolate peanut butter cups. Use a large silicone spoon or spatula to mix until combined.
Use a medium ice cream scoop to divide the mixture. Roll into balls. Place side by side on the wax paper lined baking sheet. (Spray hands lightly with cooking spray if roiling by hand to prevent sticking.)
Cool the truffles completely or chill until firm.
Chocolate Coating: Melt the chocolate candy coating per the package instructions in a microwave-safe bowl.
Use 2 forks to carefully dip each truffle in the melted chocolate returning to the wax paper lined baking sheets.
Immediately decorate the tops with sprinkles then allow the chocolate coating to dry completely. (You can chill to speed this up.)
Store in an airtight container at room temperature for up to one week.
Notes
Peanut Butter - You can use creamy peanut butter in for these delicious truffles.
Cereal - You can make these with crushed cornflakes or crushed corn Chex cereal, too.
Allow Ample Time to Set - Make a point to prepare the Scotcheroo bon bons a few hours in advance to allow them ample time to set and firm.
Make Memories - Get the family involved and set-up a dipping station with the melted candy coating and assorted toppings such as sprinkles, candy or chopped peanuts.
Chocolate - While I dip these scotcheroos truffles in classic milk chocolate you could also use white almond bark or white chocolate.
Decorating - You could melt one cup of peanut butter chips or one cup of butterscotch chips to drizzle the tops in place of sprinkles.
Yield - Depending on how the cereal mixture is divided, yield may be greater. If yield is greater than 48 an additional (1 lb) package of chocolate candy coating may be needed. (For a total of 3)