Preheat the oven to 400 degrees. Line a 18x13 baking sheet with parchment paper. Place all of the saltines salt side up on the baking sheet in an even layer.
Add the sugar, butter, and peanut butter to a medium sauce pan and bring to a boil over medium heat, stirring occasionally. When the mixture is fully boiling, stop stirring and allow to boil for three minutes.
Carefully pour the boiling mixture over the crackers and put in the oven for five minutes.
Remove from the oven and sprinkle with the chocolate chips. Return to the oven for 1 minute.
Spread the chocolate chips out into an even layer and sprinkle the m&ms over the chocolate.
Let cool on the counter for about 20 minutes. Place in the freezer for an hour and then break apart into small pieces.
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Notes
You can leave out the peanut butter entirely, if preferred. We like the flavor it adds, but it's not necessary to the recipe.Swap the candy for pecans, if desired.