Line an 8x8 or 9x9 inch square pan with waxed paper.
In a medium saucepan, combine butter, sugar, salt and half and half. Heat until boiling, stirring occasionally. Boil for 5 minutes, stirring enough to keep from scorching. Remove from heat and stir in the marshmallows, and cherry chips. Press the mixture into the prepared pan.
In the microwave or in a metal bowl over a pan of simmering water, melt chocolate chips, and peanut butter together stirring frequently until smooth. Spread over the mixture in the pan. Refrigerate for 2 hours before cutting into squares.
