In a dutch oven, melt the butter; then add the marshmallows and melt them over low heat, stirring as it melts until you have a smooth mixture.
Remove from heat and add the cereal, peanuts and coconut, stirring until the mixture is completely covered with the melted marshmallows.
With buttered hands, press the cereal mixture into the greased cake pan.
Spread the melted chocolate chips over the cereal mixture.
Chill in the refrigerator for 1 hour; then cut into bars and serve.
NOTE: the 'cook' time covers the chilling time and the 'prep time covers everything else.
Suggestions: swap out the peanuts for another kind, like almonds or macadamia; use a different crunchy cereal like Kix or Cocoa Puffs, etc; swap out the chocolate chips for a different flavor like butterscotch, peanut butter or mint chocolate.