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Combine all of the chocolate and the butter in the slow cooker
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Cover and cook on LOW setting for 1 hour – do NOT over cook.
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Stir the chocolate and allow to heat through until just melted – about 30 more minutes max.
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While the chocolate is heating, prepare two cookie sheets by covering with parchment or wax paper and set aside.
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Stir chocolate until smooth and remove from heat.
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Add the pretzels, peppermint extract and all but 1/2 cup of the M&Ms and stir until thoroughly coated.
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Drop pretzel mixture in large tablespoonfuls onto prepared pans.
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Add on a few more of the peppermint M&M candies to each piece before they set.
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Once completely cooled and firm, store in an airtight container in the refrigerator for up to 2 weeks or freeze for up to a month