Line a 9x9 baking dish with parchment paper. Be sure to leave an overhang or “sling” of parchment paper.
Sprinkle ¼ cup of the coconut flakes in the bottom of the lined baking dish. Set it aside.
Add the butter to a 3 to 4 quart saucepan over medium-low heat to melt.
Once the butter is melted, add the crunchy peanut butter and stir to combine.
Reduce the heat to low. Add the chocolate chips and stir continuously until the chocolate is melted.
Stir in the chopped walnuts and peanuts.
Remove the pan from the heat and allow the chocolate mixture to cool for 5 to 7 minutes.
Once the chocolate mixture has cooled, stir in the miniature marshmallows.
Spoon and spread the chocolate mixture on top of the ¼ cup coconut flakes.
Sprinkle the remaining ½ cup of coconut flakes on top of the chocolate. Chill in the refrigerator for 3 hours.
Remove the baking dish from the refrigerator. Lift the rocky road bars out of the baking dish and place on a cutting board.