Melt butter in large saucepan on low heat. Add marshmallows; cook until marshmallows are completely melted and mixture is well blended, stirring constantly. Remove from heat.
Add cereal; mix well.
Place a few candy coated chocolate peanut candies in bottom of bundt pan*, press warm treats into bundt pan sprayed with cooking spray. As your adding the crispy treat in pan alternately add candies so they are mixed in the cake. Press all crispy treat down in pan. Cool completely.
Melt candy melts and drizzle over cake.**
*A metal bundt pan is recommended
**I used piping bags and melted the candy melts in the bags then drizzled the melted candy over the cake.