Line counter (or two baking sheets) with parchment paper or wax paper.
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!
Video
Notes
If you want an even DEEPER butterscotch flavor, you can remove the white chocolate and use TWO bags of butterscotch instead. I've done this and it's just as amazing (and it becomes an even more tan/orange color); they certainly look like stacks of hay!
Stove free method: You can also melt the butterscotch and peanut butter (and white chocolate) together in a microwave safe bowl. Then pour over your peanuts and chow mein noodles! This is a great hack for dorm room baking, for when your stove is out of commission or when it's just too darned hot to turn on the stove.
Chow mein noodle substitute: Chow mein noodles can usually be found in the Asian or International foods aisle of the grocery store. If you can't find chow mein noodles, you can also substitute the small skinny pretzel sticks. I've done this a few times now and they're equally as delicious this way!
Spanish peanuts are the kind with the red skin. They have a little bit of a nuttier flavor than other kinds of peanuts that I love in the no bake haystacks. If you can't find them, feel free to substitute another kind of salted roasted peanut.
I also prefer to eat these cold. I think any recipe with butterscotch tastes even better cold.