In a large saucepan, combine butterscotch morsels, peanut butter morsels, and white chocolate morsels. Heat on low, stirring constantly until smooth. Remove from heat and fold in peanuts and chow mein noodles. Stir until combined. Using a small cookie scoop (or two teaspoons), drop mixture onto parchment paper in small clumps.
Allow to set, about 15-30 minutes. Store in airtight container. I prefer to keep mine in the refrigerator. I love eating these chilled, it brings out the butterscotch flavor!