Line a 8x10 pan with parchment paper.
Melt the butter in a large pot over medium heat. Then add the marshmallows and peanut butter, and stir until melted.
Stir in the rice cereal, making sure to evenly coat the cereal in the melted marshmallows.
Pour half of the mixture into the pan. Use a spoon to spread out the rice krispie mixture, creating an even layer. Next add a layer of the chocolate covered pretzels. I added a thick layer, fitting as many as I could.
Then add the remaining rice krispie mixture, and again use a spoon to spread it out and pack it down.
Add some more chocolate covered pretzels on top.
Let the rice krispie treats cool and set for an hour before slicing.