In a medium saucepan, bring the sugar and corn syrup to a boil and then reduce to a simmer. Remove from heat, stir in the peanut butter, and then fold in the puffed rice. Let cool until cool enough to touch.
Spread waxed paper to cover a 2-foot long area. Press cookie batter, 1/2-inch thick, onto waxed paper. Cut cookies with cookie cutters, and then transfer to a cookie sheet.
For the glaze:
Melt chocolate and butterscotch separately in a double boiler over barely simmering water or in the microwave at 50 percent power. In a medium bowl, combine melted chocolate and butterscotch. Using the back of a metal spoon, drizzle glaze over the cookies. Set aside until glaze sets, about 15 to 20 minutes.