Preheat your oven to 350°F (175°C). This step is crucial for achieving the perfect texture.
In a large mixing bowl, combine the room temperature unsalted butter and creamy peanut butter. Using an electric mixer, beat them together until the mixture is smooth and creamy.
Add the light brown sugar and granulated sugar to the bowl. Beat until well combined and fluffy. Then, mix in the pure vanilla extract for that extra flavor boost.
Add the two large eggs and the additional egg yolk, one at a time, mixing well after each addition to ensure they are fully incorporated.
In a separate bowl, whisk together the all-purpose flour, old-fashioned oats, quick oats, baking soda, baking powder, ground cinnamon, and salt. Gradually add this dry mixture to the wet ingredients, mixing until just combined.
Gently fold in the M&M candies, semi-sweet chocolate chips, and chopped salted peanuts. This is where the "monster" in these cookies comes to life!
Using a cookie scoop, portion out the dough onto prepared baking sheets lined with parchment paper. Leave enough space between each cookie for spreading.
Bake the cookies in the preheated oven for about 10-12 minutes, or until the edges are lightly golden. The centers may look a bit underbaked, but they will continue to cook as they cool.
Remove the baking sheets from the oven and let the cookies cool on them for about 5 minutes before transferring them to a cooling rack. Enjoy your chewy monster cookies warm or at room temperature!