In a large pot, heat sugar and corn syrup over medium heat until sugar is dissolved. Remove from heat immediately once dissolved (a good indication is at the first sign of little bubbles). Mix in peanut butter until melted and smooth. Mix in the Rice Krispies until all are coated.
Grease the insides of cookie cutters with a little butter and spread wax paper or parchment paper on your work surface. Place the cookie cutter on wax paper and firmly press some of the mix into it. Gently press the scotcheroo out of the cookie cutter and set it aside on the wax paper. Poke the bottom of the heart with a skewer to make a whole if you decide to poke a straw in after dipping. Continue with the remaining mix (apply more butter to cookie cutter as needed). Let the scotcheroos dry until firm enough to handle (30-60 minutes, or you can pop them in the fridge for 15-30 minutes).
Place the butterscotch chips and chocolate chips together in a bowl and microwave in 30 second increments until melted and smooth.
Dip the heart scotcheroos into the melted chocolate to cover the top. Let the excess drip back into the bowl and then apply the sprinkles. Allow chocolate to dry for about an hour (or in the fridge for 10-15 minutes) and then poke straws in.
Store scotcheroos in an air tight container or individually wrap in cellophane.