Spread entire bag of corn chips onto two cookie sheets or bar pans, scrunching the chips together so the caramel doesn't get drizzled (and wasted) on the pan.
In a medium saucepan over medium heat, stir together corn syrup and sugar. Heat and stir until boiling, and continue stirring for 1 more minute. Remove from heat and stir in peanut butter.
Pour the mixture over the chips, making sure each chip gets a shot of caramel. Cool. Store in airtight container.