Line a baking sheet with parchment paper; set aside.

Pour the white chocolate chips, butterscotch chips, and cookie butter into a large microwave-safe bowl. Heat in the microwave for one minute, remove and stir. Microwave in 30-second increments, stirring each time until the mixture is smooth.

Stir in the peanuts, cereal, and marshmallows until combined.

Using two spoons, drop mounds of the mixture onto the baking sheet. Allow cookies to firm up and harden. This step can be sped up by placing them in the refrigerator or freezer for 10-20 minutes.

Store cookies in an airtight container at room temperature for up to 5 days. Cookies can also be frozen in an airtight container for up to 3 months.