Preheat oven to 350 degrees. Line a cookie sheet with parchment paper or a silicone mat.
In a large mixing bowl, add in the 3/4 cup butter and 1 cup creamy peanut butter. Beat with a hand mixer on medium until creamed.
Add in the 1 cup light brown sugar and 1/4 cup granulated sugar and beat until light and fluffy.
Add in the 1 teaspoon vanilla extract and 2 large eggs, one at a time. Beat in the first egg before adding the next. Scrape down the sides of the bowl.
In a separate bowl, add the 1 cup quick cooking oats, 1 1/2 cups all-purpose flour, 1/2 teaspoon baking powder, 1/2 teaspoon baking soda, and 1/2 teaspoon salt. Stir with a spatula to combine.
Add the dry ingredients in with the wet and beat on medium just until the flour is worked into the cookie dough.
Add in the 3/4 cups milk chocolate chips or semisweet and 1 cup M&M's. I typically use 1/2 of a cup of regular and 1/2 cup of mini candy coated chocolates.
Stir until the chips and candy are evenly distributed in the cookie dough.
Using a 1 1/2 tablespoon cookie scoop, scoop the dough onto the prepared cookie sheet. Place in the oven and bake for 11 minutes or until the edges begin to turn golden.
Let cool on the cookie sheet about 5 to 10 minutes before moving to a wire rack or paper towel to cool completely.
Store in an airtight container at room temperature.
Notes
Storage: Store in an airtight container at room temperature for up to 5 days.