Line a 9 x 9 baking dish or a small baking sheet with aluminum foil, making sure the foil extends over the edges for easy removal later.

In a 2-quart saucepan, melt the butter over medium heat.

Once fully melted, add the sugar, water, and corn syrup. Stir constantly to combine well.

Bring the mixture to a boil and reduce the heat to medium-low, continuing to stir until the temperature reaches 290°F (use a candy thermometer for accuracy).

Immediately pour the toffee mixture into your prepared dish and use a spatula to spread it out quickly.

Let the candy sit for a minute or two, then sprinkle the chocolate chips on top to allow them to melt slightly.

Smooth the melted chocolate over the toffee layer with a spatula.

For a festive touch, evenly sprinkle your holiday sprinkles over the melted chocolate.

Chill the dish in the fridge for about 20 minutes or until the toffee is firm, then lift the foil out of the dish and break the toffee into pieces.