In a microwave-safe bowl, combine the chocolate chips, butter, and marshmallows. Microwave on high for 1 minute, then stir until everything is melted and combined.
Pour the melted chocolate mixture over the popcorn and stir until all the popcorn is evenly coated.
Stir in the peanuts and M&Ms.
Using your hands, form the popcorn into balls and place them on a parchment-lined baking sheet.
Refrigerate the popcorn balls for at least 15 minutes before serving.
Interesting Facts
Popcorn is an ancient food, dating back over 5,000 years.
Popcorn balls are an American classic, and have been enjoyed for over 100 years.
Rocky Road is a classic ice cream flavor that was invented in 1929.