Melt together:

6 oz. chocolate chips
8 oz. spanish peanuts
3/8 cup peanut butter

Spread half of above mixture in bottom of greased 5x7 pan.  Cook the following together until the sugar is dissolved (4-5 minutes on Medium in the microwave):

1/3 cup Eagle Brand milk
1 cup sugar

Add to milk mixture and continue to cook 4-5 minutes:

6 large marshmallows
1/2 stick of margarine

Then add the following to the milk mixture and stir until smooth:

6 oz. cherry chips
1 tsp. vanilla
1 tsp. cherry flavoring

Spread over chocolate mixture in the pan and cool so that the remaining chocolate mixture can be spread over the top.  Cut into squares.