Line a 8x8 inch pan with parchment or wax paper leaving a 1-2 inch overhang. Set aside.
Mix together rice cereal with ½ cup peanuts in a large mixing bowl. Set aside.
In a large microwave safe bowl melt together the chocolate chips, peanut butter chips, peanut butter and cream on 50% power (Medium) or using the melt feature for 1 minute.
Stop and stir. Repeat in 30-40 second increments until completely smooth, stopping to stir each time. (If needed, add additional cream 1 Tbsp at a time to thin)
Add melted chocolate-peanut butter to the bowl. Stir until ingredients are evenly coated.
Spread evenly into the pan. Sprinkle with reserved ¼ cup peanuts pressing gently into the top. Refrigerate for at least one hour or until set.
Cut into 48 one inch pieces, or into your preferred size.
Store chilled in an airtight container.