Line an 8-inch square baking pan with parchment paper.

In a double boiler, melt carob chips and peanut butter until smooth. Alternatively, place them in a microwave safe bowl and microwave in 10-second increments, stirring after each increment, until melted and smooth.

Pour the puffed rice cereal into a large bowl. Pour the melted carob/peanut butter mixture over the cereal. Stir to combine well to coat the cereal with the mixture.

Spoon the cereal mixture into the prepared pan and spread it evenly in the pan. Refrigerate it for about 30 minutes.

Remove the treats from the pan using the parchment paper. Cut into small squares about an inch wide.