Combine marshmallows, honey, butter, peanut butter, vanilla and salt together in a medium saucepan. Heat mixture over low heat, stirring constantly until all are melted and thoroughly combined.
In a 13x9x2-inch baking pan, combine oats, rice cereal, coconut and peanuts. Pour honey mixture over dry ingredients. Mix until thoroughly coated. Pack mixture firmly into the pan.
When cool, cut into 24 bars.