Line an 8X8” baking pan with overlapping layers of parchment paper.
Add the butter and peanut butter to a large saucepan.
Heat the saucepan over medium-low heat, stirring to melt the butter and peanut butter together.
Once both are melted, add in the butterscotch chips and stir until melted. Butterscotch chips can be difficult to melt and easy to scorch, so return to the heat if necessary but do not keep it on the element for too long.
Remove from the heat and allow to cool, stirring every so often to prevent the top layer from hardening.
Once the mixture is cool enough to touch and not warm enough to melt the marshmallows, add the mini marshmallows and stir gently to coat them with the butterscotch mixture.
Transfer the mixture to the prepared baking dish, and smooth it into an even layer.
Cover the pan with plastic wrap and place it in the refrigerator to chill.
Chill the bars for 4 hours, or until they are very firm.
Remove the bars from the pan using the parchment paper edges, and place them on a cutting board.
Slice into 12-16 bars and serve.