Line 8-inch square pan with parchment paper, extending paper over edges of pan.

Combine sugar, marshmallow creme, evaporated milk and butter in heavy 3-quart saucepan. Cook over medium heat, stirring constantly, until mixture comes to a full boil; boil and stir 5 minutes.

Remove from heat. Gradually stir in white chocolate and butterscotch chips, ¼ cup at a time, stirring until the chips are completely melted. Stir in the vanilla and rum extracts. Pour into prepared pan; cool until set.

Remove from pan; place on cutting board. Peel off paper. Cut into squares. Store tightly covered in cool, dry place. Enjoy!